The SEC’s actions against Binance and the subsequent closure of CommEX underscore the regulatory challenges faced by cryptocurrency exchanges in the Philippines, impacting investors and industry players alike.
BerniceThe head of the Philippines SEC clarified that Binance and any other unregistered exchange issued with an advisory has three months before they are banned from the country.
ZoeyThe Philippine SEC announced that Binance has been actively promoting itself on various social media platforms to attract Filipinos for investment and trading activities.
OliveThe Philippine SEC's warning reflects a broader regulatory crackdown on Binance, aligning with global efforts to tighten oversight. Binance's legal woes, including the US settlement, have prompted operational changes and heightened regulatory awareness. The exchange's resilience and adaptability will be pivotal in navigating challenges and consolidating its global cryptocurrency market position.
BerniceThe Central Bank of the Philippines warns the public against using non-local crypto trading platforms.
CointelegraphThe Philippine central bank sees the potential of crypto to improve domestic and cross-border payments, but the authority is still negative to crypto as a legal tender.
CointelegraphBinance’s head of Asia-Pacific Leon Foong said that they are not distracted by the efforts of so-called lobbying bodies to ban Binance.
CointelegraphInfrawatch PH Convenor Terry Ridon said that the SEC’s response clarifies the government’s position on crypto platform operations.
CointelegraphA think tank in the Philippines doesn’t give up on efforts to ban Binance, now claiming that the crypto exchange has been operating illegally in the country.
CointelegraphWeekly Bitcoin trading volumes in the Philippines peso grew steadily on Paxful this year and eventually hit a new high in July.
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