The post SEC Philippines Warns Binance for Promoting Services! appeared first on Coinpedia Fintech News
The Securities and Exchange Commission (SEC) of the Philippines has issued a warning against the popular cryptocurrency exchange Binance for violating securities laws. The SEC stated that Binance, which is not authorized to operate in the country, has been actively promoting its services on social media platforms. The commission clarified that Binance does not have the right to sell or provide securities to the public, and acting as a broker or promoter may be held criminally responsible. The SEC urged the public to exercise caution when dealing with Binance and other unlicensed entities in the cryptocurrency industry.
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