Binance’s U.S. subsidiary announced plans to delist Flexa’s AMP token after the U.S. Securities and Exchange Commission (SEC) identified the asset as security.
The exchange said it is delisting AMP “out of an abundance of caution” effective August 15.
A report was aired last week that the SEC is investigating America’s largest crypto exchange Coinbase for allegedly letting U.S. residents trade digital assets that should have been registered as securities.
The Commission reported that Coinbase had listed nine cryptocurrencies that were unregistered securities.
Of those nine tokens, only Amp (AMP) is listed on the Binance.US platform, Binance said in a post.
AMP is described as a collateral token offering instant, verifiable assurances for real-world applications.