Media: Philippine regulator considers full blocking of Binance
The media learned about the intentions of the SEC of the Philippines to begin blocking Binance. The regulator is going to restrict access to the company's website.
The Securities and Exchange Commission of the Philippines (SEC) continues to put pressure on the Binance crypto exchange. According to local media, the regulator intends to proceed with the complete blocking of the trading platform.
"The SEC warns the public against using the Binance cryptocurrency exchange. We intend to block the platform in the Philippines to protect users from unregistered investment products," the regulator said in a statement.
According to available information, the supervisory authority received approval from the National Telecommunications Commission (NTC) in response to a request to close local access to the Binance website.
Terry Reedon, head of the Infrawatch PH analytical center in Manila, called the SEC's actions "the next step in regulating the cryptocurrency sector and protecting the interests of the community."
Recall that back in November 2023, the SEC announced that Binance did not have a license to operate in the Philippines. Later it became known that the Commission gave the company three months to issue a permit.
Source: https://incrypted.com/smi-regulyator-filippin-rassmatrivaet-polnuyu-blokirovku-binance/
