Apple and Google Asked by Philippines to Pull Binance Apps
The Philippines’ Securities and Exchange Commission (SEC) has taken action, urging tech giants Google and Apple to remove the Binance app from their platforms accessible to Filipinos.
The SEC chairman, Emilio B. Aquino, emphasized that Binance’s continued accessibility poses a threat to the security of Filipino investors’ funds. This move is part of the SEC’s ongoing efforts against Binance, which began in November 2023 due to alleged violations of The Securities Regulation Code. The SEC previously warned against Binance’s operations without proper licensing, threatening legal repercussions.
Following a recent decision to block Binance’s online presence and cautioning Filipinos against using the platform, the SEC now advises investors to close their accounts and transfer their assets to secure wallets or registered cryptocurrency providers, aiming to protect the public from potential economic harm.
Clever Robot News Desk 25th April 2024
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