The Binance logo is displayed on a screen on June 6, 2023 in San Anselmo, California. Justin Sullivan, Getty Images/AFP

Binance

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<img src="https://news-image-api.abs-cbn.com/Prod/editorImage/171135806543920231130-binance.jpg" style="width: 960px;" class="fr-fic fr-dib" alt="The Binance logo is displayed on a screen on June 6, 2023 in San Anselmo, California. Justin Sullivan, Getty Images/AFP "><span id="isPasted" style="color: rgb(89, 89, 89); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(243, 246, 247); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Binance logo is displayed on a screen on June 6, 2023 in San Anselmo, California.&nbsp;<em style="color: rgb(149, 149, 149); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Justin Sullivan, Getty Images/AFP MANILA -- The Philippine Securities and Exchange Commission (SEC) has asked the National Telecommunications Commission (NTC) to block the website and other pages of cryptocurrency giant Binance.The crypto trading platform is not registered in the Philippines and is <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">therefore not authorized to sell or offer securities in the country, the regulator said.&ldquo;The SEC has identified the aforementioned platform and concluded that the public&rsquo;s continued access to these websites/apps poses a threat to the security of the funds of investing Filipinos,&rdquo; said SEC Chairperson Emilio Aquino.&nbsp;In November, the securities regulator already said that it would move to <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">block access to Binance as part of a crackdown on online trading platforms operating in the country without licenses.&nbsp;<a href="https://news.abs-cbn.com/business/11/30/23/philippines-to-block-access-to-crypto-giant-binance" rel="noopener noreferrer" target="_blank">Philippines to block access to crypto giant Binance</a>The SEC, however, said that Filipinos who have invested in Binance will have enough time to exit the platform and reposition their portfolio.<a href="https://news.abs-cbn.com/business/2024/2/20/investing-in-crypto-read-this-first-611" rel="noopener noreferrer" target="_blank">Investing in crypto? Read this first</a>On its website, Binance describes itself as the world&#39;s biggest crypto trading platform, with about 169 million users trading over 350 cryptocurrencies.&nbsp;In late 2023, <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">former Binance chief executive Changpeng Zhao resigned his post after he and the company pleaded guilty to sweeping US money laundering violations and agreed to fines of more than $4 billion.&nbsp;Aside from Binance, the SEC has also asked the NTC to block the website and app of <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">unlicensed investment platform MiTrade.<a href="https://news.abs-cbn.com/business/2024/3/7/ntc-blocks-website-app-of-investment-platform-mitrade-907" rel="noopener noreferrer" target="_blank">NTC blocks website, app of investment platform MiTrade</a><iframe width="640" height="360" src="https://www.youtube.com/embed/rX_Hx6tQ7xA?&ab_channel=ANC24%2F7autoplay=1&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>

In November, the securities regulator already said that it would move to <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">block access to Binance as part of a crackdown on online trading platforms operating in the country without licenses.&nbsp;<a href="https://news.abs-cbn.com/business/11/30/23/philippines-to-block-access-to-crypto-giant-binance" rel="noopener noreferrer" target="_blank">Philippines to block access to crypto giant Binance</a>The SEC, however, said that Filipinos who have invested in Binance will have enough time to exit the platform and reposition their portfolio.<a href="https://news.abs-cbn.com/business/2024/2/20/investing-in-crypto-read-this-first-611" rel="noopener noreferrer" target="_blank">Investing in crypto? Read this first</a>On its website, Binance describes itself as the world&#39;s biggest crypto trading platform, with about 169 million users trading over 350 cryptocurrencies.&nbsp;In late 2023, <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">former Binance chief executive Changpeng Zhao resigned his post after he and the company pleaded guilty to sweeping US money laundering violations and agreed to fines of more than $4 billion.&nbsp;Aside from Binance, the SEC has also asked the NTC to block the website and app of <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">unlicensed investment platform MiTrade.<a href="https://news.abs-cbn.com/business/2024/3/7/ntc-blocks-website-app-of-investment-platform-mitrade-907" rel="noopener noreferrer" target="_blank">NTC blocks website, app of investment platform MiTrade</a><iframe width="640" height="360" src="https://www.youtube.com/embed/rX_Hx6tQ7xA?&ab_channel=ANC24%2F7autoplay=1&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>

The crypto trading platform is not registered in the Philippines and is <span id="isPasted" style="color: rgb(0, 0, 0); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">therefore not authorized to sell or offer securities in the country, the regulator said.&ldquo;The SEC has identified the aforementioned platform and concluded that the public&rsquo;s continued access to these websites/apps poses a threat to the security of the funds of investing Filipinos,&rdquo; said SEC Chairperson Emilio Aquino.&nbsp;

<img src="https://news-image-api.abs-cbn.com/Prod/editorImage/171135806543920231130-binance.jpg" style="width: 960px;" class="fr-fic fr-dib" alt="The Binance logo is displayed on a screen on June 6, 2023 in San Anselmo, California. Justin Sullivan, Getty Images/AFP "><span id="isPasted" style="color: rgb(89, 89, 89); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(243, 246, 247); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Binance logo is displayed on a screen on June 6, 2023 in San Anselmo, California.&nbsp;<em style="color: rgb(149, 149, 149); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Justin Sullivan, Getty Images/AFP MANILA -- The Philippine Securities and Exchange Commission (SEC) has asked the National Telecommunications Commission (NTC) to block the website and other pages of cryptocurrency giant Binance.

The SEC has asked the NTC to block the website and other pages of cryptocurrency giant Binance.

The SEC has asked the NTC to block the website and other pages of cryptocurrency giant Binance.

Philippines blocks crypto giant Binance | ABS-CBN News

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Philippines blocks crypto giant Binance

Philippines blocks crypto giant Binance