Source: Bitpinas
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[Breaking News] Philippines SEC Issues Advisory Against Binance for Unauthorized Operations
By
Michael Mislos
2023-11-28
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.
Photo for the Article - [Breaking News] Philippines SEC Issues Advisory Against Binance for Unauthorized Operations
Update November 29 at 4:20pm – Binance to cease marketing efforts in the Philippines.
Update November 29, 2023 – from the SEC public information officer:
In line with the issuance of the advisory, the SEC will be requesting assistance from the National Telecommunication Commission and the Department of Information and Communications Technology to block access to Binance in the Philippines. This will prohibit users from accessing the website and its applications while inside the country.
The removal of access in the Philippines is expected to take effect within three months after the issuance of the advisory, in order to give Filipino investors who have holdings in Binance to close their positions and take out their investments.
Additionally, the SEC has requested Google and Meta, the operator of Facebook, to prohibit online advertisements from Binance appearing to users in the Philippines.
In a significant regulatory development, the Philippines Securities and Exchange Commission (SEC) has issued an advisory against the global cryptocurrency exchange, Binance, for operating without proper authorization in the Philippines.
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.
You do not have permission to view the full content of this post. Log in or register now.
[Breaking News] Philippines SEC Issues Advisory Against Binance for Unauthorized Operations
By
Michael Mislos
2023-11-28
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.
Photo for the Article - [Breaking News] Philippines SEC Issues Advisory Against Binance for Unauthorized Operations
Update November 29 at 4:20pm – Binance to cease marketing efforts in the Philippines.
Update November 29, 2023 – from the SEC public information officer:
In line with the issuance of the advisory, the SEC will be requesting assistance from the National Telecommunication Commission and the Department of Information and Communications Technology to block access to Binance in the Philippines. This will prohibit users from accessing the website and its applications while inside the country.
The removal of access in the Philippines is expected to take effect within three months after the issuance of the advisory, in order to give Filipino investors who have holdings in Binance to close their positions and take out their investments.
Additionally, the SEC has requested Google and Meta, the operator of Facebook, to prohibit online advertisements from Binance appearing to users in the Philippines.
In a significant regulatory development, the Philippines Securities and Exchange Commission (SEC) has issued an advisory against the global cryptocurrency exchange, Binance, for operating without proper authorization in the Philippines.
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.