Rejected in Many Countries, Binance Stops Offering Share Token

Binance, Friday (16/7), stopped selling digital tokens related to shares. The policy responds to regulatory decisions in various countries, with Hong Kong listed as the latest, to crack down on cryptocurrency exchange platform “share tokens” offerings.
A stock token is a digital version of equity that is pegged to the value of the relevant stock. Tokens are usually bought and sold in units purchased, unlike traditional equities.
"Effective immediately, stock tokens are not available for purchase on Binance.com," reads an announcement on Binance's official website. The company added that it will support all support for the product in October.
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Global scrutiny of the cryptocurrency sector has grown amid lax consumer protections and the use of digital coins for money laundering. And, parties in various countries have in recent months turned their attention to Binance, one of the largest platforms in the world.
The Hong Kong Securities and Futures Commission (SFC) said Binance did not have a license to conduct business on the island. Providing tokens to the Hong Kong public without authorization to be added.
"Anyone who violates the relevant provisions can be found and if found guilty, subject to criminal sanctions," the SFC said.
A Binance spokesperson commented on SFC's actions, which came a day after Italian regulators made a similar one. Binance is not currently operating an exchange in Hong Kong and attaches importance to its legal obligations, the spokesperson added.
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It was not immediately clear whether global regulators had coordinated their move, which has created unprecedented global pressure on major cryptocurrency companies.
Binance, the world's largest exchange by spot trading volume last month, offers users a wide range of services, from spot trading cryptocurrencies and derivatives to digital wallets and stock tokens.
It offers tokens to companies including Apple Inc, Microsoft Corp and Tesla Inc.
Later on Friday, Lithuania's central bank said it had granted Binance permission on "unlicensed investment services". Consumers run the risk of losing all their investment in related services.