The SEC cited Binance’s violations of the Securities Regulation Code, including unregistered securities sales and operating without a broker’s license, as reasons for the app's removal.
SEC Chairperson Emilio B. Aquino emphasized that removing Binance’s apps is crucial to halt its illegal operations and protect Filipino investors.
This action aligns with previous SEC moves to block Binance’s website access, underscoring ongoing concerns about unregulated cryptocurrency activities targeting Filipino consumers.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
