Philippines: SEC investigation into Binance operations in the country compliance with licensing requirements
Progress
Current status
under investigation
28 Nov 2023 under investigation
Scope
Implementers
Philippines
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Announced SEC warning concerning Binance, informing the public that the exchange is not authorised to sell or offer securities in the country
On 28 November 2023, the Philippines Securities and Exchange Commission (SEC) issued a warning concerning Binance, informing the public that the exchange is not authorised to sell or offer securities in the country. Although Binance claims to be reg…
SourceEvent type
investigation
Action type
interim ruling
Government branch
executive
Government body
other regulatory body