The Philippines Securities and Exchange Commission (SEC) has blocked crypto exchange Binance from the country, leaving users unable to withdraw their funds. Despite giving users a three-month warning and extending the ban implementation period, the SEC does not have any suggested means for users to reclaim their money.
SEC official Paolo Ong said that they’ve already given users three months and extended it a little to allow users to withdraw their funds from the exchange.
The official hoped that investors would have already transferred their funds to either a local exchange or their wallets within the specified time frame. “Unfortunately, we can’t endorse any method on how to take out their money now that the blocking order is out.“internet service providers in the country to immediately block access to Binance. The NTC gave local ISPs five days to complete the order.When asked why the exchange is still somewhat accessible in the country even after the notice, Ong said they are still working to implement the ban fully.
SEC Binance Philippines Crypto Exchange Funds Withdrawal
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