Philippines Takes Action Against Binance Over Licensing Issue

Azeez Mustapha


Unlock Daily Forex Signals

Select a Plan


1 - month



3 - month



6 - month






Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Philippines Securities and Exchange Commission imposes restrictions on Binance access, citing concerns about illegal activities and the protection of investors.

The Philippines Securities and Exchange Commission (SEC) has enacted measures to limit local access to the Binance cryptocurrency exchange. This action is a response to concerns regarding Binance’s alleged involvement in illegal activities within the jurisdiction.

On March 25, the SEC issued a statement detailing its petition to the National Telecommunications Commission (NTC) to block access to Binance’s website and trading platforms for users in the Philippines.

Emilio B. Aquino, the SEC Chairperson, emphasized the necessity of this action to safeguard Filipino investors, expressing concerns over the ongoing accessibility of the platform posing a risk to users’ funds.

Furthermore, the SEC has filed charges against Binance for offering investment products, including leveraged trading and crypto savings services, without proper authorization, citing violations of the Securities Regulation Code.

As a protective measure, the SEC has advised users to liquidate their positions on Binance within a three-month period.

Additionally, the SEC has reached out to major tech companies such as Google and Meta, urging them to block Binance-related advertisements targeted at individuals in the Philippines, intensifying the regulatory pressure on the cryptocurrency exchange’s operations within the country.
Philippines Takes Action Against Binance Over Licensing IssueLandmark US Court Decision Results in Fine for Binance and CEO
This prohibition adds to a series of regulatory challenges for Binance, as authorities worldwide intensify scrutiny. In a significant legal milestone in December 2023, a U.S. court mandated Binance to pay $2.7 billion, while its former CEO, Changpeng “CZ” Zhao, was ordered to pay $150 million to the Commodity Futures Trading Commission (CFTC).

This ruling concluded a protracted legal battle initiated by the CFTC in March 2023, alleging Binance’s evasion of federal laws and operation of an unlawful derivatives exchange in the U.S.

CZ’s leadership tenure concluded in November as he resigned following a settlement with the US Department of Justice, the Treasury Department, and the CFTC.

On that occasion, Zhao admitted to several civil offenses and one criminal offense related to Anti-Money Laundering laws. Simultaneously, his sentencing concerning money laundering charges was deferred until April 30.

He remains out on a $175 million bond. These events underscore the extensive regulatory scrutiny Binance has faced, impacting its global operations and strategies.

To have the best trading experience with us, open an account at Longhorn

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *