🇵🇭 Attention:::Philippines SEC orders Apple and Google to remove Binance from app stores🇵🇭🇵🇭
The SEC has been actively warning the public against using Binance for investing since November 2023. It says the crypto exchange, which is one of the world’s largest, has yet to secure a license to solicit investments from the public nor to operate an exchange to buy and sell securities.
On April 8, following the enforcement of its official ban on Binance, an SEC official reiterated that they had already provided users with a three-month period, along with an extension, to facilitate the withdrawal of their funds from the exchange. After this period, the SEC said they “cannot endorse” any methods for retrieving funds.
The move to block Binance follows a crackdown from the SEC and the NTC on Feb. 21, through which they moved to block and ban unlicensed crypto trading platforms in the country. At that time Binance was unaffected.
Binance has been involved in other regulatory-related debacles around the world, most recently in a new class-action lawsuit in Canada on April 23, following allegations that it violated local securities laws.
However, on the flip side, the cryptocurrency exchange announced on April 18 that it would return to India after paying a $2 million fine for previous non-compliance with local regulations.
On the same day, it was reported that Binance received its crypto licence in Dubai, also known as the coveted Virtual Asset Service Provider (VASP), after its co-founder Changpeng Zhao gave up his voting power in the exchange’s local entity.
In the world of finance, market declines are often met with trepidation and uncertainty. However, for astute investors, these downturns can present unique opportunities, particularly in the realm of cryptocurrency.
As per the latest market decline its the correct to enter into few of the crypto as per latest technical charts which can give huge profits in near future..
🏙️🏙️🏙️✍️✅✅ Before investing in cryptocurrency, it's crucial to educate yourself and increase your awareness about the market.
Here are some steps to consider:
Research: Learn about different cryptocurrencies, their technology, use cases, and potential risks. Understand the underlying blockchain technology and how it works.
Stay Informed: Follow reputable sources of cryptocurrency news and analysis to stay updated on market trends, regulatory developments, and new projects.
Risk Assessment: Understand that investing in cryptocurrency carries risks, including price volatility, regulatory uncertainty, and security vulnerabilities. Only invest what you can afford to lose.
Diversification: Consider diversifying your investment portfolio across different cryptocurrencies to spread risk. Avoid putting all your funds into single cryptocurrency.
Long-Term Perspective: Approach cryptocurrency investment with a long-term mindset rather than trying to time the market. Focus on the fundamentals of the projects you're investing in rather than short-term price movements.
Seek Advice: Consider seeking advice from financial advisors or experts in the cryptocurrency space, especially if you're new to investing or unsure about specific projects.By increasing your awareness and understanding of cryptocurrency before investing, you can make more informed decisions and mitigate risks associated with this emerging asset class.