Philippine gov't blocks unlicensed crypto exchange sites, Binance unaffected
Binance is still accessible in the country even after the three-month countdown that the Philippine SEC set for banning the crypto trading platform.
The Philippine National Telecommunications Commission (NTC) has started to block websites of crypto companies offering investment products in the country without the necessary licenses.
On March 7, local media outlet Bitpinas reported that the websites of crypto firms MiTrade and OctaFX were now inaccessible in the country. The NTC issued an order on Feb. 21 to internet service providers to block applications and websites of MiTrade for violating regulations enforced by the Philippines’ Securities and Exchange Commission (SEC).
The NTC’s action follows a request from the SEC to begin blocking websites of crypto platforms operating without a license in the country. In a press release, the Philippine SEC Chairperson Emilio Aquino said that the NTC’s action will help prevent investment scams in the country. Aquino said:
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