Read

<div class="cryptonews">
 <p class="is-style-lead">The Philippine SEC announces plans to block Binance access, cautioning against unregistered investments and warning of <a rel="noopener noreferrer nofollow" title="legal" href="https://thebittimes.com/tag/legal.html">legal</a> repercussions for <a rel="noopener noreferrer nofollow" title="promoters" href="https://thebittimes.com/tag/promoters.html">promoters</a>.</p>
 <p>The Philippine Securities and Exchange Commission (PSEC) has initiated measures to <a rel="noopener noreferrer nofollow" title="restrict" href="https://thebittimes.com/tag/restrict.html">restrict</a> the accessibility of the Binance trading platform within the nation. According to the regulators, the exchange lacks official registration as a corporation in the Philippines. Consequently, it’s not <a rel="noopener noreferrer nofollow" title="legal" href="https://thebittimes.com/tag/legal.html">legal</a>ly permitted to offer securities trading services in the country.&nbsp;</p>
 <p>The PSEC has set a three-month window following the advisory. This period is intended to allow Philippine investors with active investments on the platform to liquidate their positions and withdraw their funds.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Is @binance going to be banned in the Philippines? Yesterday's announcement from @SEC_Philippines doesn't look good for the world's most popular exchange pic.twitter.com/5IrafZNrDN</p>— Luis Buenaventura (@helloluis) November 29, 2023
   </blockquote>
  </div>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Cristiano Ronaldo faces lawsuit over Binance promotion and unregistered securities
 </div>
 <p>Furthermore, the Commission has reached out to tech giants Google and Meta, urging them to halt the display of Binance advertisements to users in the Philippines on their respective online platforms. In addition, the PSEC has sought assistance from the National Telecommunications Commission and the Department of Information and Communications Technology to facilitate the blocking of Binance’s services.</p>
 <p>The PSEC’s statement also contains a stern warning. It emphasizes that individuals acting in various capacities, such as salespersons, brokers, agents, <a rel="noopener noreferrer nofollow" title="promoters" href="https://thebittimes.com/tag/promoters.html">promoters</a>, recruiters, influencers, endorsers, and facilitators for Binance in the Philippines, particularly in persuading others to invest through the platform, could face criminal charges. This applies to both physical and online activities within the country’s jurisdiction.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> FTX approved to sell assets worth $873m for creditor repayment
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/philippines-sec-to-restrict-binance-warns-of-legal-risks-for-promoters-tbt72244.html">https://thebittimes.com/philippines-sec-to-restrict-binance-warns-of-legal-risks-for-promoters-tbt72244.html</a></p>

Philippines SEC to restrict Binance, warns of legal risks for promoters

TheBitTimes

Altri articoli pubblicati su 30 nov 2023

MicroStrategy Files for $750M Stock Offer After Buying 16.1K BTC

LBank and BG Trade Shine At Devconnect Istanbul

How to Buy Bluzelle Coin?

KuCoin Exchange Collaborates With VISA To Launch KuCard For Seamless Crypto Spending

Bitcoin Yet to Reach the Pre-Halving Highs: When Will the BTC Price Reach $50,000?

IOTA: A Blockchain-less DLT for Fast and Private Transactions

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!