Binance Stops Selling Tesla, Facebook, Google Stock Tokens
- Binance has announced that it has stopped selling stock tokens.
- The decision comes after increased scrutiny from financial regulators.
- Users who hold stock tokens have 90 days to sell them or move their holdings.
BINANCE UNDER FIRE: Following strict scrutiny from financial regulators, Binance has put a stop to its selling of stock tokens. The largest crypto exchange said that it will halt stock tokens so that it can focus on “other product offerings.”
A notice on Binance.com states:
Effective immediately, new stock tokens are unavailable for purchase on Binance.com, and Binance.com will no longer support any stock tokens after 14 October 2021
Binance said it will halt the stock tokens so that it can focus on “other product offerings.”
These stock tokens were in essence just tokenized versions of popular equities such as Tesla (NASDAQ:), Facebook (NASDAQ:), Google (NASDAQ:), Coinbase, and others. To list them on its platform, Binance partnered up with German investment firm CM-Equity. The same company …
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