The Philippines Securities and Exchange Commission (SEC) said it is working with Google and Apple to remove the Binance app from their app marketplaces for Filipino users, according to an April 23 statement.
The regulator said:
âIn 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.â
In the letter, Emilio B. Aquino, the SEC chair, emphasized that removing Binance apps from the marketplaces would help thwart the further spread of its illicit activities in the country.
According to the regulatory chief, Binanceâs âsale 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.â
As of press time, Binance has yet to respond to CryptoSlateâs request for comment.
Recurrent warnings
Since November 2023, the SEC has persistently cautioned the public against utilizing Binance for investment, citing its lack of a license to solicit investments or operate a securities exchange.
Last month, the SEC and the National Telecommunications Commission (NTC) jointly blocked access to Binance websites, highlighting the need to âsafeguard the public from unregistered investment products.â
Consequently, the regulator urged Google and Meta to cease Binance-related advertisements targeting Filipino users.
