MANILA, Philippines — The Securities and Exchange Commission (SEC) will proceed with blocking the website of cryptocurrency giant Binance, saying that it posed a threat to the security of the funds of Filipinos.
The corporate watchdog on Monday said its Commission En Banc approved on March 12 the filing of a formal request with the National Telecommunications Commission (NTC) for assistance in blocking Binance’s website and other web pages it used.
“The SEC has identified the aforementioned platform and concluded that the public’s continued access to these websites/apps poses a threat to the security of the funds of investing Filipinos,” SEC Chair Emilio Aquino said in his letter to the NTC.
READ: SEC delays decision on Binance ban
Binance, which is registered in the Cayman Islands and is known as one of the largest cryptocurrency websites in the world, allows users to buy and sell more than 402 cryptocurrencies,…
