Binance Not Licensed to Conduct Regulated Activity in Hong Kong: HK's Securities and Futures Commission

Yuri Molchan

Another country bans Binance from operating in its jurisdiction

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Fri, 16/07/2021 - 10:49

Binance Not Licensed to Conduct Regulated Activity in Hong Kong: HK's Securities and Futures Commission

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According to data provided by the Bloomberg Terminal, Hong Kong is the most recent country to ban the Binance crypto trading behemoth from performing regulated activities.

Binance Stops Selling Stock Tokens Over Regulatory Issues in Germany: Insider Colin Wu

The statement comes from the Hong Kong Securities and Futures Commission.

HONG KONG'S SFC SAYS NO ENTITY IN THE BINANCE GROUP IS LICENSED OR REGISTERED TO CONDUCT "REGULATED ACTIVITY" IN HONG KONG
— *Walter Bloomberg (@DeItaone) July 16, 2021

Earlier, U.Today reported that the U.K., Malta and Italy had prohibited the crypto exchange from providing services to their citizens. Besides, large U.K. banks have ceased cooperating with Binance.

According to insider Colin Wu, Binance will now stop offering stock token trade due to issues with the German regulator as well.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.