Decision from Binance to stop trading stock tokens

Leading cryptocurrency exchange Binance has decided to end trading of stock tokens that it started listing in April.

Binance that made today in a statement it was reported that the termination of trading of the shares of tokens. It was stated that those who hold positions in existing stock tokens must sell their tokens before October 14, 2021. Stock tokens not sold by this date will be closed on October 15. Purchases were closed as of the minute the announcement was published. It was stated that Binance will no longer support any stock tokens as of October 14, 2021. The platform included #Apple, #Coinbase, #Microsoft, #MicroStrategy and #Tesla tokens.

Binance's decision came after an April warning from #BaFin, #Germany's financial market regulator. “BaFin has information to suspect that Binance Germany is selling share tokens in the country without providing the necessary prospectuses,” BaFin said in the warning. Remember that investments in securities should only be made on the basis of necessary information.”

Binance started offering stock tokens in April this year in collaboration with German financial services firm CM-Equity. There was no access to these tokens from Turkey.

Binance also stated that its business partner CM-Equity AG is establishing its own stock token trading platform for those living in the European Economic Area and Switzerland, and that Binance users in this region can use this platform when it is activated, and transfer their tokens here. The platform is targeted to launch in about two to four weeks from October 15.