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    Saturday, July 17, 2021

    Binance Stops Selling ‘Stock Tokens’ Following Regulatory Scrutiny

    Major cryptocurrency exchange Binance said on Friday that users can no longer to buy digital tokens linked to stocks, a day after Italian regulators joined a string of financial watchdogs to crackdown on the platform

    “Effective immediately, stock tokens are unavailable for purchase on Binance.com, and Binance.com will no longer support any stock tokens after 2021-10-14 19:55 (UTC),” the exchange said on its website, adding it would shift its commercial focus to other product offerings.

    Italy’s market regulator said on Thursday that Binance was not authorized to provide investment services and activities in Italy, even via its main website which has offered information in Italian on derivatives and so-called stock tokens

    BaFin, the German regulator, said in April that Binance risked being fined for offering so-called “stock tokens” without publishing an investor prospectus.

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