Philippines SEC begins Binance ban countdown

The head of the Securities and Exchange Commission (SEC) in the Philippines has provided clarification on the status of Binance and other unregistered exchanges in the country. According to the SEC, these exchanges have been issued with an advisory, which means they have a three-month grace period before they are banned from operating in the Philippines. This clarification comes as the SEC aims to regulate the cryptocurrency industry and ensure that exchanges comply with the necessary registration requirements. The three-month period allows Binance and other unregistered exchanges to take the necessary steps to register with the SEC and continue their operations legally in the country.

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