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Apr 22, 2021 at 6:41 a.m. EDT
Binance, the largest cryptocurrency exchange by volume, has attracted the attention of regulators for selling “stock tokens,” designed to track the performance of shares in crypto-friendly companies like newly listed Coinbase and Tesla,
the Financial Times reports.
Red flags have already been
raised by Hong Kong law firms regarding the two tokens launched earlier this month, which allow Binance customers to purchase as little as one-hundredth of a regular stock using Binance USD (BUSD), a U.S. dollar stablecoin issued by the exchange.
U.K. regulator the Financial Conduct Authority told the
FT it is “working with the firm to understand the product, the regulations that may apply to it and how it is marketed.”
https://www.coindesk.com/binances-t...okens-under-scrutiny-from-uk-regulator-report
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