Binance is a digital asset exchange that facilitates trading of cryptocurrencies. The company is headquartered in Malta and has offices in Singapore, Hong Kong, and Tokyo.
Binance was founded in 2017 by Changpeng Zhao, who is also the current CEO.
In April 2019, the Philippines’ Securities and Exchange Commission (SEC) released a list of 15 unregistered cryptocurrency exchanges that included Binance. The SEC advised the public not to transact with these exchanges as they are not regulated by the commission.
NOTE: WARNING: Binance is not a licensed entity in the Philippines and is not regulated by the Philippine Securities and Exchange Commission. Trading on this platform is not considered legal in the Philippines. Trading digital assets on Binance is done solely at your own risk.
However, Binance is not listed as an illegal entity in the Philippines. The country’s Central Bank, Bangko Sentral ng Pilipinas (BSP), has issued a Circular recognizing cryptocurrency exchanges as remittance and transfer companies.
The BSP requires these exchanges to comply with anti-money laundering and countering-the-financing-of-terrorism lAWS.
As of this writing, there is no specific regulation for cryptocurrencies in the Philippines. However, the SEC is currently crafting regulations for initial coin offerings and digital asset exchanges.
Once these regulations are released, Binance will most likely be required to register with the SEC in order to operate legally in the Philippines.
7 Related Question Answers Found
Binance, the world’s largest cryptocurrency exchange by trading volume, is not currently legal in the United States. The company has been exploring a number of options for entering the US market legally, but has so far been unsuccessful. This is largely due to the fact that US regulations regarding cryptocurrency exchanges are much stricter than those in other countries.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been accused by the New York Attorney General’s office of illegally operating in the state. The office claims that Binance failed to obtain the proper licenses to operate in the state and was “knowingly and actively violating” New York’s financial lAWS. The Attorney General’s office is seeking an injunction to stop Binance from operating in the state and is also looking to recover damages for “the harm caused to New Yorkers”.
This is a question that many people have been asking lately. The simple answer is yes, Binance is legal in Hawaii. However, there are a few things to keep in mind if you are planning on using this exchange.
Binance is one of the most popular cryptocurrency exchanges in the world. But is it legal in the United States? The short answer is yes, Binance is legal in the United States.
Binance US, the American arm of the world’s largest cryptocurrency exchange, is now live. The launch has been highly anticipated by the crypto community in the US, as it would mean increased competition in the space and more choices for investors. However, there is one big question that still remains: Is Binance US legal in New York?
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been making headlines lately for its aggressive expansion into new markets. The Malta-based company, which was founded in 2017, is now looking to set up shop in India. But is Binance legal in India?
The legality of Binance US, a cryptocurrency exchange based in the United States, is still unclear. The company has been operating in the country since September 2019, but it has yet to obtain a formal license from any US regulatory authority. This lack of clarity surrounding Binance US’ legal status has led to some speculation that the exchange may be operating in violation of US law.
