Binance US deletes token after sec has referred to it as a security
Binance US deletes token after sec has referred to it as a security
The branch of the Crypto exchange Binance, which was regulated by the USA, decorates one of the tokens that the US stock exchange inspectorate SEC recognized in a recent insider trade.
"We believe that the delisting of a wealth value under certain circumstances best protects our community from inappropriate risks," said the stock exchange in a blog entry Monday.
Last month, the US regulatory authority said that the former Coinbase product manager, Ishan Wahi, acted against several announcements of crypto listings. They supposedly bought at least 25 cryptocurrencies on the basis of confidential information, of which at least nine securities were, said the SEC in a Awarding .
Binance said that of these nine tokens is only listed on his platform. The eight other tokens, which in the complaint are rly, ddx, rg, lcx, powr, dfx and Krom.
The AMP token of the Flexa network, which is intended to make payments easier for retailers, has a market capitalization of has dropped by almost 10% in the last 24 hours Rel = "Nofollow Noopener" Target = "_ Blank" href = "https://www.blockworksresearch.com/assets/amp/"> Blockworks-forschung shows. Binance delisting will be effective on August 15th.
The amp trade could be resumed on its platform at some point, but the stock exchange said it was waiting for more clarity about the classification of the tokens.
beyond Bitcoin, the formal attitude of the SEC remains unclear to the status of cryptocurrencies.
Chairman Gary Gensler has that should be regulated as a goods. Er
his predecessor Jay Clayton said in 2018 that cryptocurrencies like Bitcoin are No securities because "these replacement currencies for sovereign currencies". In the meantime, Coinbase has asked the SEC to set rules for the market for digital assets, and said: "The existing rules for securities simply do not work for digital assets." The SEC published a long paper in 2019 to describe his methods for the classification of investment contracts for digital assets, but say that you still are unclear. Anton Chashchin, managing partner of Bitfrost.io, told Blockworks that Gensler's advance of recognizing most crypto-assets as securities affects the core of a major debate: How should digital assets be defined? "Some see them as a currency, others as security," he said. "For a good reason, this was a source of international debates between the regulatory authorities and the crypto industry. The way we treat and define an asset has enormous effects on its regulation." The warning step of Binance to take amp from the stock exchange follows that it has violated securities rules. Bloomberg reported that the stock exchange was examined by the SEC because of its offer des Bnb-tokens, according to the market capitalization of the world. separat a rel = "nofollow noopener" target = "_ blank" href = "https://www.reuters.com/investigates/special-report/fintech-crypto-binance-dirtymoney"> Reuters examination found in June for five years as a channel for washing of $ 2.35 billion served from hacks, investment fraud and illegal drug sales. . . The Post Binance Us delists Token After Sec Labels It A Security is not a financial advice. Binance is on the safe side and sees a second examination towards