Crypto PH Weekly Roundup – Feb. 19 – 25, 2024 | Community Makes Its Choice About Binance

This weekend, we were invited to the Ethereum community’s ETH63 meetup at the GCash office and caught up with the latest developments. Amid discussions about Ethereum, the conversation seemed to focus on February 29. What’s going to happen? It’s the anticipated final date when access to Binance will be blocked.

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Also Read:

• Rafael Padilla: Binance’s Website Can’t be Blocked Without Court Order
• How to Prepare For Possible Binance Ban in the Philippines

The Choices

Leading up to this critical week, there was, of course, a lot of buzz. I’ve heard that people have already made their decisions.

1. Some have transferred their funds out in preparation for the potential ban. If the ban occurs, their funds are safe. If it doesn’t happen, their funds remain secure.
2. Others are choosing not to move their funds, banking on the possibility of an extension or at least some guidance from the Binance team on what steps to take.

A similar situation in the U.S. regarding Binance.com transition to Binance.US

A case in point is when Americans lost access to Binance.com to transition to Binance.US:

During the transition to Binance.US, Binance informed their American customers about the changes and restrictions that would be placed on U.S. users on Binance.com. The company announced it would gradually phase out access for U.S. customers to buy and trade cryptocurrencies on its main platform due to regulatory reasons. As part of this process, Binance encouraged U.S. users to withdraw their funds and transition to Binance.US, the platform specifically tailored for the United States market, which complies with U.S. regulatory standards.

No official statement from Binance, but statement from Binance Customer Support

There is no official press release from Binance’s comms team about the situation. Users, however, have received some form of communication from its support team:

“We are working on fixing this with your local government.”

“The announcement does not have an impact on Binance. We acknowledge and respect the statement made by the Securities and Exchange Commission (SEC) of the Philippines. At Binance, we are committed to aligning with applicable regulations. We are actively working on addressing the SEC’s concerns with the utmost priority.”

“For now, there is no action needs to be done from your end and you can continue using your Binance account until formal announcement made from our end.”

We are most likely going to hear more about this in the coming days, up until Thursday.

Check out our earlier article: How to prepare for Binance ban in the Philippines.

CryptoPH Community Updates

Coins.ph lists PIXEL Token after Binance listing.

GCrypto adds Dogecoin.

Coinex at PUP San Juan Career Expo.

Bitget unveils Blockchain4Youth campaign at campus roadshow.

Gala Games community meetup at the Coins.ph HQ.

Ethereum ETH63 Meetup at the GCash office.

Polkadot meetup.

Select BitPinas Articles

Sayang pagod: Pinoys grind for airdrops but ended up ineligible.

Filipinos and global users expressed disappointment over their ineligible status for Starknet rewards, despite investing time and funds.

Web3 Interview Series: Bitcoin Cash Adotion by Paytaca in Tacloban

Learn about the recent involvement of Bitcoin Cash-focused firm Paytaca at St. Paul’s School of Professional Studies’ BizRed Days.

Watch: Webcast with NFTXSTREET, Coins.ph, Ethereum Community, and Crypto Art PH

Last week, we interviewed the following persons during our weekly recap.

1. JB Bon of NFTXSTREET and Jen Bilango of Coins.ph to discuss PIXELS.
2. Paulo Dioquino of Pendle Finance to discuss the Starknet Airdrop.
3. Jopet Arias to discuss Art Fair Philippines.

Watch here!

Upcoming Webcast

Tune in to the BitPinas webcast this Feb. 27, 8pm as we recap the crypto news of the week:

1. Solana’s search volume surges in the Philippines.
2. Bitcoin Cash adoption in Tacloban.
3. Local exchange PDAX continues listing spree, from RON to HBAR.

With weekly crypto news recap from BitPinas writer Shiela Bertillo and Trivia Q and A with Lance Domagas.

Supported by Bitshares Labs.

Upcoming Events This Week

• Enter the Arena: Colosseum Hackathon 2024 | Superteam Philippines (Feb. 29)

Regularly check the BitPinas Facebook page for the update!

Thanks for reading!

P.S.

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This article is published on BitPinas: Crypto PH Weekly Roundup – Feb. 19 – 25, 2024

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