SEC to ban Binance PH and crypto exchange gets hacked In November 2023, financial authorities in the Philippines notified Binance that it was working in the country without a licence. They warned people not to use Binance because the company wasn't licensed to sell or offer crypto services in the country. Officials warned the world’s biggest exchange that its operations would be blocked if the issue isn’t fixed by the end of February 2024. A spokeswoman for the PH's Securities and Exchange Commission (SEC) said that the agency is assessing the impacts of the Binance ban and its effects on Filipino users.
