The Securities and Exchange Commission (SEC) of the
Philippines has blocked the cryptocurrency giant Binance. This action was taken
after the exchange was found to be operating an investment and trading platform
without the necessary license from the SEC, raising concerns about the security
of funds of investing Filipinos.
The commission approved the filing of a formal request with
the National Telecommunications Commission (NTC) to block the exchange’s
website and other associated web pages in a meeting held on March 12.
In the letter addressed to the NTC, the SEC’s Chairperson, Emilio B. Aquino, mentioned: “The SEC has identified the
aforementioned platform and concluded that the public’s continued
access to these
websites or apps poses a
threat to the security
of the funds
of investing Filipinos.”
Expect ongoing updates as this story evolves.
The Securities and Exchange Commission (SEC) of the
Philippines has blocked the cryptocurrency giant Binance. This action was taken
after the exchange was found to be operating an investment and trading platform
without the necessary license from the SEC, raising concerns about the security
of funds of investing Filipinos.
The commission approved the filing of a formal request with
the National Telecommunications Commission (NTC) to block the exchange’s
website and other associated web pages in a meeting held on March 12.
In the letter addressed to the NTC, the SEC’s Chairperson, Emilio B. Aquino, mentioned: “The SEC has identified the
aforementioned platform and concluded that the public’s continued
access to these
websites or apps poses a
threat to the security
of the funds
of investing Filipinos.”
Expect ongoing updates as this story evolves.
