Coinspeaker
Philippines Financial Regulator Cracks Down on Binance for Unauthorized Crypto Operations
The Philippine Securities and Exchange Commission (SEC) has greatly increased its regulatory fight against the global crypto trading giant Binance. The SEC accused the crypto exchange of illegally operating in the country without licenses.
In a recent notice, the Philippine SEC clearly stated that Binance does not have official permission to sell investments or securities to average investors across the country. Calling out the exchange is a part of the agency’s broader efforts to reveal unregistered crypto companies and coordinate blocking access to their platforms.
Even though Binance acts as an approved broker in some places overseas, it still has to meet many legal requirements to handle securities activities in the Philippines under the country’s Securities Regulation Code. This includes officially registering all investment products made available to Filipinos, starting a Phi
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