Kraken’s tokenised stock launch follows earlier failed attempts by Binance and other exchanges, which halted similar offerings after regulatory warnings about lacking local licensing

Quotes that support claims

Binance, the world’s largest crypto exchange, introduced tokenized versions of Tesla and other U.S. stocks in 2021. But it pulled the plug on them a few months later after regulators around the world warned that Binance didn’t have the needed licenses to offer them locally.

Kraken must navigate an international thicket of regulations to ensure its xStocks are offered legally in each country.