![]() ![]() The day before, Italy’s financial regulator referenced stock tokens in a notice that said Binance can't operate in the country. īinance said it halted the offering to focus “on other product offerings,” but a few hours earlier, Hong Kong’s Securities and Futures Commission warned consumers that Binance is not "licensed or registered" to offer tokenized stocks, which it said are “likely to be securities” under Hong Kong law. ![]() CM-Equity still operates similar services on FTX and Bittrex. Customers couldn’t buy new stock tokens and Binance said it wouldn’t support the tokens at all after October 14. In mid-July, Binance ceased tokenized stock trading without warning. Binance listed Coinbase stock on the day of the listing and also sold tokenized equity in companies such as Tesla, Apple and Microsoft. Unlike regular stocks, Binance’s tokenized stocks did not pay dividends to customers, who also had no shareholder voting rights.īinance launched tokenized stocks on April 12, two days before crypto exchange Coinbase was listed on the Nasdaq. In Binance’s case, CM-Equity operated as the broker it sold tokenized, fractionalized of stocks it owned to Binance’s customers. Tokenized stocks are cryptocurrency derivatives that track the value of securities. If customers do not sell the tokens or move them to CM-Equity AG’s platform, Binance will sell the tokens for them on October 15. They can sell them on Binance up until October 14. Customers from other nations, such as the United Kingdom, cannot migrate tokens to CM-Equity AG. ![]()
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