Philippines SEC: Ban on Binance will take effect three months after announcement
Kelvin Lee, chairman of the Philippine Securities and Exchange Commission, clarified at a panel discussion on December 13 that the ban on Binance will take effect three months after the announcement is made. The Philippine regulatory agency issued a warning to Binance for operating without a license on November 28. In addition to Binance, Lee also said that OctaFX and MiTrade, two exchanges recently warned for unregistered operations, will also face a ban after three months.
The local securities association said that they have a "considerable" list of unregistered exchanges that will gradually come to light. However, after seeing the action taken against Binance, they are also taking a "wait-and-see" attitude towards whether these exchanges are registered.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
We know memecoins, but what are contentcoins?
Want Speed, Scale, and Security? Qubetics, Polkadot, and Flare Are the Best Cryptos to Join TodayFlare: Turning Blockchain Data Into Actionable Utili
Discover the best cryptos to join today with updated insights on Qubetics, Polkadot, and Flare. Compare presale stats, utility, token price, and community growth.Qubetics: Redefining Web3 Utility with Power and PrivacyPolkadot: Modular Strength with a Battle-Tested NetworkFinal Thoughts: Should You Back the Next Web3 Power Move?
XRP price consolidates and maintains expectations of growth towards US$ 5
Ethereum Resurrected? ETH Reacts Strongly and Analysts Point to Possible Path to $10.000
Trending news
MoreCrypto prices
More
