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LONDON — Britain's move to block Binance is boosting rival cryptocurrency exchanges, which have reported a surge in new users in the country recently. The Financial Conduct Authority recently announced a crackdown on Binance , the world's top crypto exchange by trading volume, restricting the company from carrying out regulated activities in the U. Binance withdrew its application to register as a licensed crypto asset firm in the U. While Binance is technically allowed to continue offering crypto trading to Brits, it was ordered by regulators to add a notice to its website saying it is not authorized to operate in the U. For its part, Binance said the measures only targeted its U.
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- Binance Stops Selling ‘Stock Tokens’ Following Regulatory Scrutiny
Binance NFT Marketplace Guide: How to Collect, Buy, and Sell NFTs
The exchange said that Binance users holding stock tokens can sell or hold them over the next 90 days. Binance said on Friday it had stopped selling digital tokens linked to shares, as Hong Kong's financial watchdog became the latest in a string of regulators to crack down on the cryptocurrency exchange platform's "stock tokens" offerings.
Stock tokens are digital versions of equities pegged to the value of the relevant share. They are usually bought and sold in fractional units, unlike traditional equities.
Global scrutiny of the cryptocurrency sector has grown amid worries over lax consumer protection and the use of digital coins for money laundering, with authorities in recent months zeroing in on Binance , one of the world's biggest platforms. Hong Kong's Securities and Futures Commission SFC said after Binance's move that the exchange was not licensed to carry out regulated activities in the city. Offering stock tokens to the Hong Kong public without authorisation could be an offence it added.
A Binance spokesperson declined to comment on the SFC's move, which came a day after Italian regulators made a similar announcement. Binance does not currently have exchange operations in Hong Kong and takes its legal obligations seriously, the spokesperson added.
It was not immediately clear whether global regulators have coordinated their moves, which have created unprecedented global pressure on a major cryptocurrency firm. Binance, the world's biggest exchange by spot trading volumes last month, offers a wide range of services to users, from cryptocurrency spot and derivatives trading to digital wallets and stock tokens.
It was offering tokens for companies including Apple , Microsoft , and Tesla. Later on Friday, Lithuania's central bank said it had warned Binance about its "unlicensed investment services". Consumers risk losing all their investments on crypto-asset related services, it said. Regulators in Britain, Germany, Japan and some other countries have stepped up warnings over Binance, with the United States also reportedly investigating the exchange. Italy's market watchdog on Thursday said Binance was not authorised to provide investment services and activities in the country.
Its website has offered information in Italian on products including stock tokens. Britain's Financial Conduct Authority FCA , which last month said Binance could not carry out regulated activities, declined to comment on whether it had been in contact with other regulators. The FCA routinely cooperates and shares information with regulators globally on a range of issues, a spokesperson said.
BaFin, the German regulator, said in April that Binance risked being fined for offering stock tokens without publishing an investor prospectus. Binance users holding stock tokens can sell or hold them over the next 90 days, the exchange said, but will no longer be able to sell or close positions after October For the latest videos on gadgets and tech, subscribe to our YouTube channel.
The move comes after growing scrutiny of the exchange by regulators Stock tokens are digital versions of equities Binance was shifting its commercial focus to other product offerings. Interested in cryptocurrency? Further reading: Binance , Cryptocurrency. Best Deals of the Day ». Tech News in Hindi. More Technology News in Hindi. Latest Videos. More Videos. Popular Gadgets.
Binance.US Review 2022: Low Fees, But Investors Should Take a Pass
Today, the Binance cryptocurrency exchange is the biggest in the world, with over 20 million users in a range of different countries. This popular exchange also offers a mobile app to buy, sell, and trade your crypto funds. But this app doesn't come in just one form; it's split into Binance Lite and Binance Professional. Binance Lite is the default mode you'll see when you initially download the Binance app. This version of the app is designed to have high usability for all users, regardless of experience in the crypto industry.
Binance stops selling 'stock tokens' after regulatory scrutiny
Register Binance Account Open demo account. Register Binance. Step 3: Enter the amount in your fiat currency or quantity in crypto you want to buy and click 2 "Sell". Step 6: Now the order is completed, the buyer will receive the crypto. You can click [Check my account] to check your Fiat balance. Note : You can use Chat on the right side to communicate with the buyer in the whole process. Note : If you have any issues in the transaction process, you can contact the buyer using the chat window on the top right of the page or you can click "Appeal" and our customer service team will assist you in processing the order.
BNB/USD: Sudden Wave of Selling Propels Binance Lower Again
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3 Ways You Can Sell Your Bitcoin Into Cash: A Quick Guide from Binance
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Crypto Exchange Binance Stops Selling Tesla, Facebook, Google Stock Tokens
Biance app is seen on a smartphone in this illustration taken, July 13, HONG KONG, July 16 Reuters - Hong Kong's markets watchdog on Friday said Binance, one of the world's largest cryptocurrency exchanges, was not licensed to sell 'stock tokens' in the city, products it said the exchange had offered in other markets. Stock tokens are virtual assets that are represented to be backed by depository portfolios of underlying overseas listed stock. Hong Kong plans to bring in legislation requiring all cryptocurrency exchanges in the city to be licensed and only to offer services to professional investors. At present, exchanges can apply to be licensed by the SFC, but are not required to. A Binance spokesperson said it does not currently hold exchange operations in Hong Kong.
Trading is buying and selling of a stock or an asset. For every asset or stock you sell, there should be a buyer and vice versa. However, if you sell at market price, you might gain or loss depending on how the wind is at that moment.
How to Integrate Koinly and BinanceRELATED VIDEO: how to sell usdt from binance - sell USDT in Sri Lanka in 5 min #binance #withdraw #p2p
Step-by-step instructions on how to sell BNB for Canadian dollars or cryptocurrency. Binance Coin is a well-known cryptocurrency that trades using the ticker symbol BNB. Binance Coin was founded on While Binance Coin is not Bitcoin, the most well-known cryptocurrency, it has a large community. When comparing Binance Coin to Bitcoin, you may notice the price change is significantly different. There is a max supply of ,, BNB that will ever be available, based on mining efforts through the miners.
In this article lets look at How to use Binance to Buy and sell Bitcoins and other cryptocurrency. Step 2 : At the top right you will find the link Login or Register. Click on the text Register and a new page will open up. Step 3: On the registration page fill in your email id and password. Once you do that, the register button get enabled. Click on that. Step 4 : You will be getting a verification mail to the email id you provided.
Binance Stops Selling ‘Stock Tokens’ Following Regulatory Scrutiny
Observers expect a cryptocurrency sell-off before and during the Chinese Spring Festival holiday as Chinese miners cash in for fiat currency to buy presents. The BSN launched a project to bring modified public chains to China. The world of blockchain moves fast, and nowhere does it move faster than China. Bitcoin prices will continue to face selling pressure over the next two weeks as Chinese miners sell their tokens in the run up to the Spring Festival holiday, according to a report published Thursday from Singapore-based Stack Funds, a cryptocurrency investment management company.