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<ul class="news-points"> 
 <li>The SEC in the Philippines said Binance is not authorized to operate in the country.&nbsp;</li> 
 <li>The regulator stated that the crypto exchange has violated securities regulations through its operations in the country.&nbsp;</li> 
 <li>Binance operators and dealers in the Philippines risk criminal convictions in light of their operations.</li> 
</ul> 
The <a href="https://coinedition.com/tag/sec/">Securities and Exchange Commission</a> in the Philippines announced on Tuesday that the world’s largest cryptocurrency exchange, Binance, is not authorized to operate in the country. The regulator made the disclosure in a <a href="https://www.sec.gov.ph/advisories-2023/binancebinance-is-not-registered-as-a-corporation-in-the-philippines-and-operates-without-the-necessary-license-and-or-authority/#gsc.tab=0" target="_blank" rel="nofollow">blog post</a> where it noted that the crypto exchange has a considerable presence in the country. Based on the report, Binance allegedly used various social media promotional efforts to draw Filipino users to its platform.&nbsp; 
Furthermore, the SEC said that information on the exchange’s website shows that it runs a facility to trade financial instruments and offers investment products. However, the regulator said these services or products must be registered under the law before they can be issued or sold to the public.&nbsp; 
According to the report, the issuer or the broker …
The post <a href="https://coinedition.com/binance-not-authorized-to-operate-in-the-philippines-sec/">Binance Not Authorized to Operate in the Philippines: SEC</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Binance Not Authorized to Operate in the Philippines: SEC

Coin Edition

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