{"id":46220,"date":"2021-07-16T15:52:17","date_gmt":"2021-07-16T12:52:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46220"},"modified":"2025-09-01T15:15:51","modified_gmt":"2025-09-01T12:15:51","slug":"hong-kong-regulator-warns-binance-group-entities-are-operating-without-a-licence","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hong-kong-regulator-warns-binance-group-entities-are-operating-without-a-licence\/","title":{"rendered":"Hong Kong regulator warns Binance Group entities are operating without a licence"},"content":{"rendered":"<p>Hong Kong&#8217;s Securities and Futures Commission (SFC) <a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/news-and-announcements\/news\/doc?refNo=21PR76\">said<\/a> that the companies within the Binance Group do not hold licences to operate in the jurisdiction.<\/p>\n<p>The regulator cited local law, under which tokenised shares fall under the definition of securities.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe promotion and\/or distribution of such tokens in Hong Kong or among local investors constitutes &#8216;regulated activity&#8217; and requires an SFC licence,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>The authority reminded that violators may face criminal liability.<\/p>\n<p>The SFC urged investors to exercise caution and added that it had received complaints from users who \u201cencountered difficulties withdrawing fiat currencies or digital assets from accounts on unregulated platforms.\u201d<\/p>\n<p>Earlier, Binance said that, from 14 October<a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-end-support-for-tokenised-stocks\"> it would discontinue support for tokenised shares<\/a>.<\/p>\n<p>Earlier in June, the United Kingdom&#8217;s Financial Conduct Authority <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">banned Binance Markets Limited<\/a> from any regulated activity in the country without prior written approval.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/cayman-islands-regulator-launches-probe-into-binance\">The Cayman Islands<\/a> have begun examining Binance&#8217;s operations, <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-accuses-binance-of-operating-without-a-license\">Thailand<\/a> accused the company of operating without a licence, <a href=\"https:\/\/u1f987.com\/en\/news\/japanese-regulator-issues-another-warning-to-binance\">Japan<\/a> issued another warning.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/polish-regulator-urges-caution-in-using-binance-services\">Polish regulators<\/a> warned consumers about the risks of interacting with the platform, and <a href=\"https:\/\/u1f987.com\/en\/news\/italy-and-malta-warn-consumers-about-unregulated-binance-activity\">Italy and Malta<\/a> warned about Binance&#8217;s unregulated activity.<\/p>\n<p>Against the backdrop of regulatory pressure, CEO Changpeng Zhao published an open letter in which <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-outlines-binances-push-to-protect-customers-and-ensure-compliance\">he outlined Binance&#8217;s plans to ensure compliance and protect customers<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hong Kong Securities and Futures Commission (SFC) said that entities within the Binance Group do not hold licences to operate in the jurisdiction.<\/p>\n","protected":false},"author":1,"featured_media":46221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,36],"class_list":["post-46220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46220"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46220\/revisions"}],"predecessor-version":[{"id":46222,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46220\/revisions\/46222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46221"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}