Banning Binance in the Philippines
Binance started offering financial services to Filipino users without obtaining the necessary approvals
The recent ban imposed by the Philippine Securities and Exchange Commission (SEC) on Binance has left Filipino investors worried about their digital assets.
According to SEC attorney Paolo Ong, the ban is part of a broader regulatory effort aimed at ensuring compliance that includes not only Binance but also other platforms that are not bound by the rules.
Now there are two different opinions among the cryptocurrency community, according to some users, the strictness of the regulatory bodies will protect users from the risks and abuse of the platforms.
And on the other hand, many people believe that such strict rules are against the decentralized and confidential nature of digital currencies.
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