The latest announcement from the Securities and Exchange Commission (SEC) of the Philippines states that the authorities are collaborating with the National Telecommunications Commission (NTC) to take measures to prevent the public from using the cryptocurrency exchange website and application of Binance. It claims that the exchange poses a threat to the financial security of the Filipino people.
"Bumpy Road to Compliance! Following India and Nigeria's Regulatory Crackdown, Binance Faces Comprehensive Blockade in the Philippines"