do you know? Our platform is no longer allowed to be used in the Philippines
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The Philippines’ financial regulator will block local users from accessing Binance, the world’s largest cryptocurrency exchange, citing concerns over the company’s unlicensed operations in the country.
The Philippine financial regulator accused Binance of violating the Securities Regulation Act by offering leveraged trading services and investment products such as cryptocurrency savings accounts without obtaining required licenses.
According to the SEC, the ban will take effect within three months to give investors time to exit positions held through Binance. The agency also asked Google and Meta to block Binance-related ads from appearing on the platforms for Filipino users.
The ban in the Philippines is the latest regulatory blow for Binance, which faces increasing regulatory scrutiny around the world.
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