World's largest cryptocurrency exchange says it will no longer offer so-called stock tokens

Just three months after launching the digital shares, Binance has said that it will no longer support stock-tokens. The products are tokenized versions of popular stocks, and closely track their performance.

Support for these tokens will officially end on October 14, and users who currently hold them have 90 days to sell, the company said.

Meanwhile, on the same day, Hong Kong’s Securities and Futures Commission said that Binance is not licensed to conduct “regulated activity.” The Hong Kong development follows other regulators in Italy, Thailand, Japan, Germany, and the US clamping down on the firm.

First “regulate” it and then “license” it - a perfect cartel.