Philippines SEC Blocks Binance Access, Citing Lack of License

The Philippines Securities and Exchange Commission has taken action against Binance for operating without the necessary regulatory approval, aiming to protect investors.

The Philippines Securities and Exchange Commission (SEC) has requested the National Telecommunications Commission (NTC) to block Binance's website and related pages.
Binance, the world's largest cryptocurrency exchange by daily trading volume, is accused of operating without a proper SEC license in the Philippines.
The SEC's decision is part of a broader effort to regulate cryptocurrency exchanges and protect investors from unlicensed operations.
Other countries, including India, China, and Canada, have also taken steps to block or restrict Binance's operations within their borders.
The SEC had previously warned Binance users about the potential consequences of using the exchange, including the blocking of its online presence in the Philippines.