The Philippines SEC has requested Google and Apple to remove applications controlled by Binance from their App stores. The exchange’s Philippines-based users are finding the exchange inaccessible to remove their funds. BNB price increased over 1.5 times since the Philippines SEC issued its first warning on Binance in November 2023. The agency offered a three-month grace period for investors starting November 2023 to pull their funds off the crypto exchange Binance.
Attorney Ong said that nearly 14 crypto firms were banned in the Philippines in 2023, Binance included. Ong told Cointelegraph that the SEC has already given users three months and extended it a little to allow them to withdraw their funds from the exchange. Users who failed to comply are now unlikely to have the opportunity to do so as access to the exchange is blocked by Filipino internet service providers. Binance didn't immediately respond to FXStreet's request for comment.
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