The Securities and Futures Commission (SFC), Hong Kong’s securities regulator, announced that Binance, one of the world’s largest cryptocurrency exchanges, is not licensed to sell “stock tokens” in the city and other products the exchange has offered in other markets. The SFC also said that no entity in the Binance group is licensed or registered to conduct ‘regulated activity’ in Hong Kong, and so it may also be an offence to offer such tokens to the Hong Kong public without SFC authorisation. The move followed other warnings to Binance from regulators in Italy, Thailand, Japan, Germany and the United States.
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