Google and Apple Ordered to Remove Binance App in Philippines

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In March, the Philippines Securities and Exchange Commission (SEC) issued a directive to the National Telecommunications Commission (NTC) to block access to the Binance cryptocurrency exchange website. The SEC stated that the platform was operating in the country without a license.

In line with this, the department has recently requested Google and Apple, both American companies, to remove the Binance service from their app stores.

According to the department’s press release, there has been a significant increase in the number of Filipino users on the platform, which poses a potential threat to the country’s financial stability.

SEC Chairman Emilio Aquino expressed concern over the fact that Binance allows its users to invest in securities that are not registered in the local market.

In order to safeguard citizens, the regulator has now compelled the owners of the largest app stores to take down the trading platform. As of now, representatives from Google and Apple have not released any comments regarding the matter, and the Binance application is still available for smartphone users.