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𝐒𝐄𝐂 𝐦𝐨𝐯𝐞𝐬 𝐭𝐨 𝐫𝐞𝐦𝐨𝐯𝐞 𝐁𝐢𝐧𝐚𝐧𝐜𝐞 𝐚𝐩𝐩 𝐢𝐧 𝐆𝐨𝐨𝐠𝐥𝐞, 𝐀𝐩𝐩𝐥𝐞 𝐚𝐩𝐩 𝐬𝐭𝐨𝐫𝐞

The Securities and Exchange Commission (SEC) is working with Google and Apple for the removal of applications operated by cryptocurrency giant Binance in app marketplaces accessible in the Philippines.

In separate letters addressed to Google and Apple dated April 19, the SEC has requested for the removal of applications controlled by Binance.com from Google Play Store and the Apple App Store, respectively.

“The SEC has identified [Binance] and concluded that the public’s continued access to these websites/apps poses a threat to the security of the funds of investing Filipinos,” SEC Chairperson Emilio B. Aquino said in the letter, saying that the sale or offer of unregistered securities to Filipinos and operating as an unregistered broker constitutes a violation of Republic Act no. 8799, or The Securities Regulation Code.

Removing and blocking applications of Binance will “prevent the further proliferation of its illegal activities in the country, and to protect the investing public from its detrimental effects on our economy,” Mr. Aquino added.

Read more here: https://www.sec.gov.ph/pr-2024/sec-moves-to-remove-binance-app-in-google-apple-app-store/#gsc.tab=0

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