Philippines Will Block Binance
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In an attempt to protect the safety of Philippine investors' funds, the Securities and Exchange Commission (SEC) of the Philippines has decided to restrict local users' access to Binance.

The regulator has collaborated with the National Telecommunications Commission (NTC) to block Binance's website and online trading platform, it said in a document released on March 25.

In a letter to the NTC, SEC Chairman Emilio B. Aquino has expressed concern over the platform's unlicensed operations in the country and considered them a threat to public funds.

The regulator has further stated Binance offers investment products, such as leveraged trading services and crypto savings accounts, without the necessary licenses, which is a violation of the country's Securities Regulation Code.

The ban will take effect in three months.

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