NEWS : š„š„
The Philippines Securities and Exchange Commission (SEC) has taken a significant regulatory step by blocking local access to Binance, the worldās largestĀ cryptocurrency exchangeĀ by trading volume.Ā
According to aĀ releaseĀ issued by the regulator on Monday, the SECās decision was based on Binanceās failure to obtain the necessary license from the commission to operate as an investment and trading platform.Ā
Binanceās Website And Services BlockedĀ
In its March 12 meeting, the SEC approved filing a formal request with the National Telecommunications Commission (NTC) to assist in blocking Binanceās website and related web pages.Ā
With an averageĀ daily trading volumeĀ of $65 billion and support for over 402 cryptocurrencies, Binance has gained a substantial user base of more than 183 million members in the Asian country, according to the regulator.