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The U.S. Securities and Exchange Commission (SEC) is reportedly investigating every U.S.-based cryptocurrency exchange, including Binance.

According to New Forbes ReportU.S. Senator Cynthia Lummis staff revealed that regulators are investigating all 40 U.S. cryptocurrency exchanges, including the world’s largest cryptocurrency trading platform Binance, for potential violations.

The staffer said the platforms are in various stages of investigation, and the SEC is eagerly trying to resolve its dispute with the Commodity Futures Trading Commission (CTFC) over which agency has ultimate jurisdiction over crypto assets.

The report also found that a senior executive at a cryptocurrency exchange said that based on what he heard from SEC members, many exchange platforms may have received Well Notices, formal notices of imminent legal action against them.

Recently, Binance.US said it would delist AMP, an Ethereum (ETH)-based cryptoasset designed to provide collateral for payments on the Flexa network, as the SEC considers it a security under its jurisdiction .

Binance says yes remove AMP out of caution.

“Last week, the U.S. Securities and Exchange Commission (SEC) filed securities fraud charges against a former employee of Coinbase, among others. In its lawsuit, the SEC named nine digital assets as securities. Among the nine tokens, Only Amp (AMP) is listed on the Binance.US platform.

Out of an abundance of caution, we have decided to delist AMP tokens from Binance.US, effective August 15, 2022. While AMP may resume trading on the Binance.US platform at some point in the future, we are taking this step now until the classification around AMP is clearer. ”

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may suffer is your own responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets and Daily Hodl is not an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Salamahin/Vadim Sadovski

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