Public policy group Infrawatch PH is calling on the Securities and Exchange Commission to strengthen its enforcement efforts against unlicensed crypto exchanges, citing persistent risks to investors from unregulated platforms.
Both platforms allegedly allow peer-to-peer (P2P) crypto transactions, which Infrawatch PH claims violate Philippine financial laws.
Infrawatch PH’s calls to ban Binance and Coinbase in the Philippines have sparked mixed reactions in the local crypto community.
In a new letter sent to the BSP, policy think tank Infrawatch renews its calls to ban Binance amid action from international regulators.
The think tank group is also requesting the BSP if they can review those who hold a VASP license that failed to operate in a given time.
[Breaking News] The SEC sent a response letter to Infrawatch, stating that Binance is not registered in the Philippines and cautions the public not to invest with the exchange.
Sign up with your email and never miss another crypto and NFT story from the Philippines and beyond! In response to the petition filed appealing to the Department of Trade and Industry (DTI) to ban the operations of the cryptocurrency exchange Binance in the country, the department said it cannot embargo the exchange for cryptocurrency-related…
![[Newsletter] CryptoPH Wrap-Up – How Will the Infrawatch vs Binance Story End?](https://bitpinas.com/wp-content/uploads/2022/07/CRYPTO-INSIGHT-NEWSLETTER-2-1-768x402.png "[Newsletter] CryptoPH Wrap-Up - How Will the Infrawatch vs Binance Story End? 8")
Will the story end when Binance gets a license? Or will the regulator agree to the points brought up by Infrawatch?
Binance responds to Infrawatch’s letter to DTI asking the agency to ban the global crypto exchange.
After sending a letter to the BSP to suspend and ban Binance, think tank Infrawatch PH also sent a letter to DTI.
