Filipino Access to $500K Binance Airdrop Blocked Post SEC Caution
Binance issued a regulatory compliance warning to Filipino users trying to join the ‘Swap to Win’ airdrop.
Binance issued a regulatory compliance warning to Filipino users trying to join the ‘Swap to Win’ airdrop.
As the SEC considers requesting the NTC to block Binance in the Philippines, below is a timeline of the exchange’s activities in the country.
The SEC tagged OctaFX, Binance, Kito-Kiko Variety Shop, and House of Forex for operating in the country without proper licenses.
“But as a lawyer, I feel obliged to echo the advisory of SEC. And it should not matter whether it is a cease-and-desist order, the advisory is clear and we should take heed of that.”
Learn about the diverse reactions within the Filipino crypto community to recent SEC warnings on Binance’s unauthorized activities in the Philippines.
Update: Binance says that under its new leadership, it will take steps to address the SEC’s concerns.
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.
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