Binance Pulls Plug on Digital Stocks Amid Regulatory Scrutiny

Binance Holdings Ltd., the world’s largest cryptocurrency exchange operator, said it would stop offering digital tokens tied to stocks like Apple Inc. and Tesla Inc. after regulators in multiple countries raised concerns about the products.said on its website

Friday. Customers who own the tokens may sell them over the next 90 days, and Binance will cease to support the products on Oct. 14, the exchange said. “We believe that shifting our commercial focus to other product offerings will better serve our users for the long term,” a Binance spokesperson said.

Binance’s move came as regulators around the world have stepped up pressure on the crypto exchange. Some of the agencies have singled out Binance’s stock tokens for appearing to violate local securities regulations. Hong Kong’s markets regulator on Friday became the latest regulatory body to warn investors about Binance’s stock tokens.

This is willful. They know half the world has securities laws that parallel the U.S.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China's Xiaomi overtakes Apple for the first time in the global smartphone marketXiaomi had a 17% share of global smartphone shipments, ahead of Apple's 14% and behind Samsung's 19%, according to Canalys. Do the same listing with profitability.
Source: CNBC - 🏆 12. / 72 Read more »

Some Apple staff have quit because of the company's stance against remote working, a report saysThousands of Apple employees are discussing how they can force the company to soften its position on remote work, The Verge reported.
Source: YahooNews - 🏆 380. / 59 Read more »