Here’s Why India is Blocking Access to Binance, Kraken, More Exchanges
India mandates compliance for offshore crypto exchanges under PMLA, issuing show cause notices via FIU to nine platforms.
India mandates compliance for offshore crypto exchanges under PMLA, issuing show cause notices via FIU to nine platforms.
The Commission cited the reports and information compiled, noting that PECADO, led by President Eliseo Jojo Prisno, is enticing the public to invest in the platform’s digital assets.
The following entities are enticing the public to invest without the necessary registration requirements from the SEC.
Last month, Zhao and Binance acknowledged guilt and consented to pay a $4.3 billion penalty to the US Securities and Exchange Commission (US SEC) for violating the Bank Secrecy Act.
Those who will act as salesmen, brokers, dealers or agents, representatives, promoters, uplines, recruiters, influencers, endorsers, and enablers of Solace PH. — SEC
The SEC Commissioner also clarified whether the period will be extended, as well as the status of other unregistered exchanges, on whether they will be blocked as well by the NTC.
The SEC tagged OctaFX, Binance, Kito-Kiko Variety Shop, and House of Forex for operating in the country without proper licenses.
Coinville was listed as an inactive VASP by the BSP in August 2023.
The Digital Asset Security Service Provider Rules of the SEC will be different from the Virtual Asset Service Provider Rules of the BSP.
The revocation is noteworthy given that BEXPRESS, INC. was among the limited circle of only 19 entities in the Philippines holding a VASP license.