Binance ditches ‘stock tokens’ as global crackdown widens

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.

“Effective immediately, stock tokens are unavailable for purchase on Binance.com,” the exchange said on its website, adding it would cease all support for the products in October.

Global scrutiny of the cryptocurrency sector has grown amid…


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