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- Sep 25, 2023
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The Securities and Exchange Commission ( SEC ), Chairperson Emilio Aquino said the Philippine public’s continued access to Binance sites and apps poses a threat to the security of the funds of investing Filipinos.
The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker, adding that this violates the country’s securities laws.
Binance, Google and Apple have immediately not answered yet about the request of the SEC through President Madcos, Jr. comment when contacted by CNBC.
Aquino said that blocking Binance from the Google and Apple app stores would help “prevent the further proliferation of its illegal activities in the country. Doing this will also protect the investing public from its detrimental effects on our economy.
The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker, adding that this violates the country’s securities laws.
Binance, Google and Apple have immediately not answered yet about the request of the SEC through President Madcos, Jr. comment when contacted by CNBC.
Aquino said that blocking Binance from the Google and Apple app stores would help “prevent the further proliferation of its illegal activities in the country. Doing this will also protect the investing public from its detrimental effects on our economy.