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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 198,056,607
Close 2021-07-22 C$ 9.04
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Globe says Canopy, other hear stock tokens risky

2021-07-23 08:44 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Friday edition that Canadian investors curious about trading stock tokens -- digital versions of stocks that are based on blockchain technology -- must have a high appetite for risk in the current climate of regulatory uncertainty, caution some crypto industry experts. The Globe's Vanmala Subramaniam writes that last week, the cryptocurrency exchange Binance abruptly announced it would stop selling stock tokens after warnings from securities regulators in multiple countries that it was not authorized to sell these products. Regulators in Hong Kong and Germany say Binance cannot sell stock tokens because they are considered securities, and Binance is not registered as a regulated securities dealer in those jurisdictions. Several Canadian companies, including Canopy Growth, Aurora Cannabis and BlackBerry, have tokenized versions of their stock trading on foreign cryptocurrency platforms such as Binance and Hong Kong-based FTX, one of the largest and most popular crypto exchanges in the world. Investors can buy and sell fractional amounts of a stock through owning a tokenized version of a security. The price of the stock token is pegged to the value of the share itself.

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