The Philippine Securities and Exchange Commission (SEC) uncovered crucial details about Crypto Exchange Binance offering securities illegally within the country. Securities, including issuance price, must be registered with the SEC, and this applies to corporations or licensed dealers registered in the Philippines.
This came directly after the US DoJ sued Binance over Money Laundering charges where Binance CEO CZ pleaded guilty.
Binance Unmasked: Unregistered and Unauthorized
Shocking revelations from the SEC’s database expose Binance as unregistered in the Philippines, operating without the required license to offer securities. Investors are strongly cautioned against engaging with such platforms.
The SEC claims Binance is accessible via its website, Google Play store, and the Apple App Store. The platform asserts it operates a facility for trading financial instruments, offering various investment products, including cryptocurrency spot trading with leverage and futures contracts.
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