Cryptocurrency Q&A
Can Filipinos use Binance?
Can Filipinos use Binance?
CryptoQueenBee
Mon Jun 10 2024
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6 answers
1141
Could you please clarify for me: Is it permissible for individuals residing in the Philippines to utilize the services provided by Binance? I'm particularly interested in understanding if there are any legal restrictions or regulations that might prevent Filipinos from accessing and utilizing this cryptocurrency platform. Could you also elaborate on any potential challenges or limitations that Filipinos might encounter while attempting to use Binance? Your insights would be greatly appreciated.
6 answers
Claudio
Wed Jun 12 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that comply with regulatory requirements. Its services include spot trading, futures trading, and wallet services.
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Martina
Wed Jun 12 2024
Cryptocurrency exchanges have been under increasing scrutiny by regulatory authorities worldwide. Binance, a leading platform in the industry, has recently faced regulatory challenges in the Philippines.
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Michele
Wed Jun 12 2024
According to the regulatory chief, Binance's actions in the country have been deemed as violative of existing laws. Specifically, it is alleged that Binance has been selling or offering unregistered securities to Filipinos.
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Lorenzo
Wed Jun 12 2024
This offering of unregistered securities is considered a serious offense under Republic Act no. Such acts are prohibited as they pose risks to investors and could potentially destabilize the financial system.
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CherryBlossom
Wed Jun 12 2024
Additionally, Binance is accused of operating as an unregistered broker in the Philippines. Operating without proper registration is illegal and can lead to significant fines and penalties.
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