Starting August 15, 2022, the US division of the Binance exchange will close trading in the Amp (AMP) token. This was said in a statement.

Earlier, the US Department of Justice announced that former Coinbase product manager Ishan Wahi and two accomplices were arrested on charges of insider trading fraud.

The US Securities and Exchange Commission (SEC) sued them with similar arguments. However, the regulator stressed that this is a securities fraud.

Thus, the agency classified 9 out of 25 cryptocurrencies that the defendants used in their operations. The list includes Powerledger (POWR), Chromatika (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), LCX and XYO tokens.

“Of these nine tokens, only Amp (AMP) is listed on the Binance.US platform. As a precaution, we have decided to remove the token. […]’ said the branch.

The exchange allowed AMP to continue trading as “more clarity emerged” about its classification.

Previously, a number of cryptocurrency exchanges closed trading of XRP tokens from Ripple after the SEC lawsuit. These include Bitstamp, Binance.US, Galaxy Digital and Jump Trading. OKCoin and Coinbase have removed support for XRP for users in all regions served.

Recall that in July 2022, Roche Freedman LLP lawyers on behalf of investors LUNA and TerraUSD filed a class action lawsuit against Binance’s American division and CEO Brian Schroeder.

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