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Binance To Stop Offering Stock Trade


josemendez
(@josemendez)
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Not up to three months that the popular exchange Binance ventured into stock trading , the exchange has announced through it's CEO that they will no longer offer stock trading in the site. 

Binance prior to this announcement has been facing many regulatory lawsuit from regulators from UK, Canada and Japan . During the early hours of today , July 15 , 2021 , Hong Kong Securities and Futures Commission's (SFC's) warns that Binance do not have the regulatory right to trade in their country , especially stock trading. It was after this message that Binance having seen similar attack decided to stop offering Stock Trading. 

 

Current stock holders in the platform have been given up till October 14 to sell all their stock or lose their funds . This will surely have a huge negative effect on the price of stock in coming days as there will be massive sales from today onwards. 

Do you think that Binance will be able to survive the heat on them from different regulatory bodies ?


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BrolySSJ
(@brolyssj)
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I think that if they have decided to stop is trading of stock markets on their binance exchange platform then it is generally going to happen after a lot of research and as a result this must be the best course of action for their success moving forward as well. I think they're from the regulation perspective it can pose a lot of challenges however if they had a specific clause or perhaps a understanding when it comes to the introduction of the stock trading into the binance exchange platform then they might be able to get away with any of the legal implications from this change. That is why it is very important to consider all of the legal aspects before making a decision of this magnitude.


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Sincerem
(@sincerem)
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Surely Binance will survive the heat, already they're surviving it. When it comes to business, don't expect going straightforward for the business owners all the time. That's just the case with Binance, they have been found breaching a law in the Chinese country. That's why legal actions where opened on Binance, but Binance have handled them all, by defending their badge. 


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saoussen5765
(@saoussen5765)
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I think mostly there is legal problem of continue using stock trading on their platform or there is something that prevent by law that this activity continue being performed, or different countries laws where some supported countries can do stock trading and others no, all these scenarios are possible.


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Tanya
(@tanya)
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I did not even realize that Binance was offering stock trading. When I started using Binance only crypto trading was available in the platform. I have been using Binance for a while and I find is very useful. This is one of the best platforms for crypto traders and investors. 


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