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@ dannybuntu
2024-04-24 02:50:57Opinion about Binance: Buy Bitcoin & Crypto (android)
Binance is one of the more popular cryptocurrency exchanges in the Philippines - it is currently under regulatory uncertainty.
Philippine government orders Google Play and Apple Store to remove Binance App. Source: CNBC
As of 2024-04-24 The app is still available via Google Play.
A copy of the SEC (Philippines) order.
This is to inform the public that the online cryptocurrency exchange BINANCE is NOT AUTHORIZED TO SELL or OFFER SECURITIES to the public in the Philippines. Based on the reports and information gathered by the Commission, BINANCE has been actively employing promotional campaigns on various social media platforms to attract and entice Filipinos to engage in investment and trading activities using its platforms.
In view thereof, the public is hereby advised to exercise caution before investing in these kinds of unregistered online investment platforms and their representatives. In dealing with these unregistered platforms, the Commission reiterates its Advisory entitled: “Advisory against Dealing with Non-Registered Foreign Entities, Organizations, and Corporations”.
In addition, those who act as salesmen, brokers, dealers or agents, representatives, promoters, recruiters, influencers, endorsers, and enablers of the BINANCE platform in selling or convincing people to invest in this platform within the Philippines even through online means may be held criminally liable under Section 28 of the SRC and be penalized with a maximum fine of Five Million Pesos (P 5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos G.R. No. 195542, 19 March 2014).
For the guidance of the public. Makati City, 28 November 2023.
As of April 24, 2024, these are the list of countries where Binance is banned:
- Canada
- Afghanistan
- Japan
- India
- Vietnam
- Germany
- Iran
- Bangladesh
- Kazakhstan
- Italy
- Belgium
- Malaysia
- China
- Thailand
- United Kingdom
- France
- Philippines
Curiously, in the United States, there are states where Binance claims that users can sign up (Information as of March 6, 2024, Source: Binance Site):
- Alaska
- American Samoa
- Hawaii
- Maine
- New York
- Northern Mariana Islands
- Texas
- U.S. Virgin Islands
- Vermont
February 23, 2024 - Judge Approves Binance’s $4.3 Billion Settlement For Anti-Money Laundering, Sanctions Violations Forbes.com
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