![]() The token is described as a digital collateral token that offers instant as well as verifiable assurances for any kind of value transfer and through AMP, a network such as Flexa can quickly secure transactions through irreversible means for a wide variety of different use cases which are related to assets.ĪMP was created by FLEXA. The token can be bought as well as sold for digital currencies or FIAT currencies. AMP is built on Ethereum and follows the ERC-20 standard for tokens. The Coinbase listings resulted in the coin’s prices hiking upward, which allowed the individuals to make quite a bit of revenue.AMP is an asset token that is used to collateralize payments on the Flexa Network which makes them instant and secure. ![]() It is believed that upon learning that Coinbase was going to list specific assets, this former employee shared the data with personal acquaintances, allowing them to purchase the assets on other platforms before their respective listings on Coinbase. Coinbase Is Facing Heaps of TroubleĪside from the SEC investigation that’s taking place, Coinbase is also facing problems stemming from a situation involving an old executive who allegedly took part in insider trading practices. The company made it clear that while they’re open to potentially listing Amp again in the future, more research would have to be done about the token’s qualities and technical characteristics so that it can be appropriately classified. We operate in a rapidly evolving industry, and our listing and delisting processes are designed to be responsive to market and regulatory developments. In a blog post a few weeks ago, Binance stated: Binance is the subject of a separate SEC investigation and likely wants to not only grease the wheels with the agency, but it probably doesn’t want to stoke any more flames. Nevertheless, it looks like Binance has caught wind of this situation and isn’t taking any chances. His argument was that Coinbase had a very strict vetting process for its listings, one that had been overseen and approved by the SEC in the past, and that the exchange had never listed any token it ever considered a security. Coinbase does not list securities on its platform. We agree with Commissioner Pham and, respectfully, 100 percent disagree with the SEC’s decision to file these securities fraud charges and the substance of the charges themselves. ![]() ![]() The company’s Paul Grewal responded to the recent allegations through a blog post and wrote on the exchange’s website: ![]() Not too long ago, it was announced that Coinbase – one of the largest crypto exchanges in the United States – was the subject of a new SEC-based investigation given the agency believed the company was listing potential securities without properly registering them with authorities.Īt the time of writing, Coinbase (naturally) is denying any wrongdoing. There is growing concern as of late about the status of certain tokens given agencies like the SEC and the Commodity Futures Trading Commission (CFTC) have their eyes pointed fervently at the growing digital currency space. Binance does not want to get in the middle of what could be a huge legal fight and is apparently removing the token from its listings altogether. Binance.US – the American division of Binance, arguably the largest and most popular digital currency exchange in the world – has removed the Amp token given that the Securities and Exchange Commission (SEC) views the asset as a potential security. ![]()
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