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[Yusra31]

The Securities and Futures Commission (SFC) published a statement on Friday warning the public against unregulated cryptocurrency trading platforms. The regulator singled out Binance, claiming that the global crypto exchange may be offering Hong Kong investors trading services in "stock tokens." The SFC provided the following information:
No entity in the Binance group is licenced or registered to conduct "regulated activity" in Hong Kong, according to the SFC.

According to the SFC, "stock tokens are virtual assets that are purported to be backed by various depository portfolios of underlying overseas listed stocks."

"Stock tokens are likely to be 'securities' in Hong Kong," the regulator said. "Marketing and/or distributing such tokens whether in Hong Kong or targeting Hong Kong investors constitute a 'regulated activity' and require a licence from the SFC unless a relevant exemption applies," the announcement explains for those that are considered securities.

 

[Wisdom01]

Sec is right ,investors needs to be really careful about unregulated exchange platform , so that they are not scammed at the end and for binance have proven to be legit i dont really understand the focus in regulating the platform

 

[CyberPreNurse]

Binance needs to get license before conducting such high profile regulated activity like offering stock tokens to investors since this is not allowed. They shouldn't be involved in what's considered illegal.

 

[ahsan510]

Binance first have to get their license then offering token to people. Investors must take everything into account because unregulated exchange platforms are working thats why hong kong warned their community about it.

 

[Niftyicon]

All exchanges rendering crypto services in various countries have to be checked about doing so without the necessary licensing. It seems with the booming crypto markets exchanges now spring up so much that could easily confuse new investors.

 

[SCAMEXPOSER]

I think Binance is getting the attention much more than other Exchange platforms because it is the biggest and most patronized. I believe if every country key into regulations Binance will definitely register with relevant authorities.