TechFlow news: In late November 2023, the Philippines' financial regulator notified Binance that it was operating in the country without a license. The regulator stated that Binance is not authorized to sell or offer securities in the Philippines and warned citizens against using the platform. Officials said they would block its operations if the world's largest cryptocurrency exchange failed to resolve the issue by the end of February 2024.
A spokesperson for the Securities and Exchange Commission of the Philippines said the agency is currently assessing the consequences of banning Binance. Officials are "working with other government agencies to restrict the operations of unregistered entities in the Philippines."
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