Cryptocurrency exchange Binance has announced it will no longer support the trading of stock tokens. The decision comes against the backdrop of an ongoing regulatory crackdown, with Hong Kong becoming the latest to declare that the platform is not licensed to provide such services in its jurisdiction.
Stock Tokens No Longer Available for Purchase on Binance.com
Binance, the world’s leading digital asset exchange by daily volume, is ceasing support for stock tokens. The coin trading platform explained that the move is part of its continuous evaluation of products, but it also comes amid an increasing pressure on the exchange from regulators around the world. On Friday, the crypto company said:
Today, we are announcing that we will be winding down support for stock tokens on Binance.com to shift our commercial focus to other product offerings.
The exchange pointed out that the suspension is “effective immediately,” with stock tokens already unavailable for purchase on Binance.com. The platform will not