Share this article
Hong Kong, Lithuania Issue Binance Warnings
Hong Kong's Securities and Futures Commission said no entity in the Binance Group is registered to conduct any regulated activity.
Updated Sep 14, 2021, 1:26 p.m. Published Jul 16, 2021, 10:38 a.m.
Make us preferred on Google
Hong Kong and Lithuania became the latest places to warn crypto exchange Binance about its operations. Hong Kong's markets regulator said Binance is not registered to operate in its jurisdiction, while the Bank of Lithuania said it warned the company about "its unlicensed investment services."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Hong Kong's Securities and Futures Commission (SFC) said Friday that no entity in the Binance Group is registered to conduct any regulated activity in Hong Kong.
- The SFC raised concerns that Binance's stock tokens could be offered to Hong Kong investors.
- "Where the stock tokens are 'securities,' marketing and/or distributing such tokens – whether in Hong Kong or targeting Hong Kong investors – constitute a 'regulated activity' and require a license from the SFC unless an applicable exemption applies," the regulator said.
- Earlier today, Binance announced that it is discontinuing its stock token service, ending the sale of the tokens immediately and ceasing support for those already purchased in October.
- Lithuania's central bank also issued a warning about Binance's "unlicensed investment services."
- The announcements by the SFC and the Bank of Lithuania follow a string of similar warnings from regulatory bodies elsewhere, including the U.K., Japan and the Canadian province of Ontario.
- The U.K. Financial Conduct Authority's ruling was followed by several major banks in Britain, including Barclays and Santander blocking their customers from using their cards on Binance's platform.
Read more: Italian Regulator Says Binance Is Unauthorized
UPDATE (July 16, 10:57 UTC): Adds details from SFC statement and earlier stock-token announcement from Binance.
UPDATE(July 16, 13:34 UTC): Adds Lithuania.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Gold in 'extreme greed' sentiment as it adds entire bitcoin market cap in one day
Bullion ripped past $5,500 and sentiment gauges hit “extreme greed,” while bitcoin stayed pinned below $90K — a split that’s getting harder to ignore.
What to know:
- Gold’s surge above $5,500 an ounce has taken on the feel of a crowded trade, with its notional value jumping about $1.6 trillion in a single day.
- Sentiment gauges such as JM Bullion’s Gold Fear & Greed Index are signaling extreme bullishness in precious metals, even as similar crypto indicators remain stuck in fear.
- Bitcoin is lagging despite the “hard assets” narrative, trading like a high-beta risk asset while investors seeking a store of value are favoring physical gold and silver over digital tokens.
Top Stories
