HomeGerman NewsBinance stops selling stock tokens

Binance stops selling stock tokens

Binance is one of the largest cryptocurrency exchanges in the world.Not only the euro Bitcoin And other digital currencies, but it can also be speculated in new forms of investment, such as so-called stock tokens. According to data from analysis service Coinmarketcap, Binance’s total trading volume can even be said to be the largest among all cryptocurrency exchanges.

However, under increasing regulatory pressure from various authorities, Binance has now stopped selling stock tokens. From now on, the trading platform will be announced on its website on Friday. As of October, they can no longer trade.

Stock tokens are virtual investments that replicate real stock prices. Investors can use Binance to bet on coveted companies such as Tesla or Apple. If the stock price rises or falls, this also applies to the value of the token. However, the product offered by Binance Germany does not have a securities prospectus and should have been submitted to Bafin.Therefore, Bafin has already Complaining a violationThe law stipulates a fine of up to 5 million euros for such violations.

On Thursday, the Italian stock exchange regulator made it clear that Binance has no right to provide investment services. Italy provide. The cryptocurrency exchange provides information on derivatives and shared tokens in Italian on its website. The US Department of Justice and tax authorities also recently announced that they will monitor Binance more closely.

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