August 12, 2022

The US Securities and Exchange Commission (SEC) is said to be investigating every US-based crypto exchange, including Binance.

According to the new Forbes magazine ReportAn employee of US Senator Cynthia Loomis revealed that the regulator is looking into all 40 US-based cryptocurrency exchanges, including the world’s largest cryptocurrency exchange Binance, for potential violations of the law.

The employee says that the platforms are in various stages of investigation and that the Securities and Exchange Commission (SEC) is eagerly trying to resolve its dispute with the Commodity Futures Trading Commission (CTFC) over the agency that has final jurisdiction over crypto assets.

The report also found that a senior executive from a cryptocurrency exchange said that based on what he heard from members of the Securities and Exchange Commission, it is likely that several exchanges have received good, formal notices that legal action will be taken against them.

Recently, Binance.US said it would remove AMP, an Ethereum (ETH)-based crypto asset intended to secure payments on the Flexa network because the SEC considers it security to fall within its purview.

Binance says that Removal AMP out of caution.

Last week, the Securities and Exchange Commission (SEC) filed securities fraud charges against a former Coinbase employee, among others. In the lawsuit, the SEC identified nine digital assets that it claims are securities. Among those nine tokens, Amp (AMP) is only listed on the Binance.US platform.

Out of great caution, we have decided to remove the AMP token from Binance.US, effective August 15, 2022. While AMP trading may resume at some point in the future on the Binance.US platform, we are taking this step now until there is more clarity about the AMP rating. “.

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Featured Image: Shutterstock / Salamahin / Vadim Sadovski

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