Crypto exchange Binance.US announced Monday that it’s delisting one of the crypto assets the US Securities and Exchange Commission identified as a security in a recent insider-trading case.
The Amp token is one of nine digital currencies that the regulator said were securities in a lawsuit last month that accused three individuals, including a former Coinbase Global Inc. employee, of participating in an insider trading scheme. The token currently has a total market value of about $360 million, according to CoinMarketCap.
Under US rules, the security label carries strict investor-protection requirements for platforms and issuers. Exchanges offering trading in such tokens could be forced to register with the SEC.
“We operate in a rapidly evolving industry and our listing and delisting processes are designed to be responsive to market and regulatory developments,” Binance.US said in a blog post, citing the SEC’s case. The trading platform said it was removing the Amp token “out of an...
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