MANILA, Philippines — A potential Philippine government ban on global crypto trading giant Binance was delayed due to a reshuffle at the top ranks of Securities and Exchange Commission (SEC).
The blocking of access to Binance in the Philippines was supposed to take effect three months after the SEC issued a warning last Nov. 29. The corporate regulator said the trading platform was found to be operating without the necessary regulatory licenses.
SEC Chair Emilio Aquino told the Inquirer the SEC was undergoing a “transition” with the appointment last week of Commissioner Hubert Dominic B. Guevara, who took the place of former markets and securities regulation head Kelvin Lester Lee after his term ended.
READ: PH to ban troubled Binance
“There’s an ongoing discussion [about Binance],” Aquino said. “I assure you it will be addressed”.
Any ban will require the cooperation of the National Telecommunications Commission…
