Binance pulls stock tokens amid regulators’ outcry
Binance announced on Friday that it will start winding down the support for stock tokens on its platform, adding that it will instead focus on other product offerings. The company also stated that users who currently hold stock tokens can hold or sell them over the next 90 days before support permanently stops mid-October.
Meanwhile, Hong Kong’s Securities and Futures Commission unveiled that Binance isn’t licensed or registered to conduct “regulated activity” in Hong Kong, which includes stock tokens. They are the latest in a line of regulators, including Italy and Thailand, that have come out against the exchange in recent weeks, as well as some private lenders.
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