Philippines SEC ‘can’t endorse’ ways to retrieve funds after Binance ban
SEC official Paolo Ong said that they’ve already given users three months and extended it a little to allow users to withdraw their funds from the exchange.
As the Philippines Securities and Exchange Commission (SEC) blocks crypto exchange Binance from the country, users who cannot withdraw their funds in time are being left to fend for themselves.
In a local news report, Paolo Ong, the officer in charge of the SEC’s PhiliFintech Innovation Office, said that the SEC couldn’t endorse ways to retrieve funds after Binance is blocked by internet service providers (ISP) in the country.
Ong said that the regulator has already given a three-month warning and extended the time before the ban is implemented to give investors enough time to remove their funds from the exchange.
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