German financial supervision bafin has expressed a warning against the german offshoot of the krypto money borse binance. It gives rise to the sufficient suspicion that the offered there "stock" offset against the prospectus. Such violated konne with pubes of € 3 million to 5 million euros or to be punished with up to three percent of the annual turnover.
As a matter of principle, securities can only be launched on the market in germany, although a prospectus granted by the bafin is published, the author is explained. The tokens lacked the prospectuses and a reason for an exception is not recognizable, it is called in the message of bafin. An opinion of binance on request from our site has not yet been available.
Also called british supervision
BINANCE offers these tokens only recently in germany. According to the declarations of the borse, it is a kind of derivative based on a specific share and their performance. Such tokens are currently offered for shares of apple, tesla, microstrategy and coinbase. Each token is deposited with a stock, but you can not enlarge them in the share certificate, but only against crypto money via binary action. Even equity fractions could be traded. Commercial law rights there are no, but dividends should be paid. Free transferable be these derivative tokens also not, counterparty is always the munchner fintech company CM equity.
The german financial supervision is not the first authority that takes the tokens under loupe. Also the british supervision FCA calls, as the financial times reported last week. Binance had explained at the request of the economic blade that it is completely regulatory-compliant products and a prospectus obligation in this case also does not exist.
Binance is currently the big crawptobors of the world. Originally founded in china, the company had changed several times the seat and resided since 2020 in malta. Critics looked behind the frequent change of headquarters the attempt to escape regulatory requirements.