Topic: Binance will be ban in the Philippines? - page 2. (Read 267 times)
If the licence is necessary to operate the exchange and other exchanges can able to get the for sure Binance will also follow the rules of their government and implement everything its needed. This is not an official or anything just an organization pointing their fingers to ban Binance but it won't happen anyway unless Phillipines ban the trade of cryptocurrencies completely.
Important keyword from the article headline: BSP Urged to Ban Binance
Kumbaga proposal lang(or palang). Just like how pwede rin akong gumawa ng proposal sa BSP na i-ban ang GCash, pero it doesn't mean na matutupad ung proposal sa huli (obviously not).
Kumbaga proposal lang(or palang). Just like how pwede rin akong gumawa ng proposal sa BSP na i-ban ang GCash, pero it doesn't mean na matutupad ung proposal sa huli (obviously not).
Yes Sir, you are correct. But were not in the local thread section, instead we are here at the trading section topic,
But I do appreciate your opinion here in this discussion anyway. Thanks and have a good day to you.
Important keyword from the article headline: BSP Urged to Ban Binance
Kumbaga proposal lang(or palang). Just like how pwede rin akong gumawa ng proposal sa BSP na i-ban ang GCash, pero it doesn't mean na matutupad ung proposal sa huli (obviously not).
Basically, it's just a proposal. I could literally also create a proposal to the BSP but it doesn't necessarily meant that it will amount to something.
Basically, it's just a proposal. I could literally also create a proposal to the BSP but it doesn't necessarily meant that it will amount to something.
Yes Sir, you are correct. But were not in the local thread section, instead we are here at the trading section topic,
LOL ty for the heads up.
binance always abide laws of certain country's regulation. the binance.ph seem already in place which users are directed to binance.com.
binance knew Philippines has the biggest crypto users in Asia, it will be a big loss if they are not going to deal with it as soon as possible. it is not a big problem for users though because there are also huge list of exchanges that users can go.
binance knew Philippines has the biggest crypto users in Asia, it will be a big loss if they are not going to deal with it as soon as possible. it is not a big problem for users though because there are also huge list of exchanges that users can go.
Good day to all the members in this forum, maybe I should start our conversation with the questions we will discuss.
First question, is it possible to ban Binance in the Philippines?
According to the BSP (Bangko Sentral ng Pilipinas) there is a group or organization called INFRAWATCH PH that issued a letter to the BSP saying that one of the largest cryptocurrency exchanges in the world should be banned or suspended. Because it doesn't have a license to operate in our country, and if your gonna take a look at it, they are right. Because in order for you to be an official company related to exchange or virtual assets, you need to have a VASP (Virtual Asset Service Provider) and there are always associated requirements before you can have a license to operate in the Philippines. And some of the licenses here are Coinsph, PDAX and Paymaya which will soon be able to buy and sell crypto.
According to Binance, they have not yet formally received the letter about banning them here in the Philippines. And they are also ready to discuss about this matter because they are also ready to get a VASP license or even an E-money license.
And as far as I know, last June the CEO and Founder of Binance visited here and they plan to expand here in our country, and they also plan to provide a scholarship program and eventually the graduates will be able to work in the Binance company.
According to the SEC (Security Exchange Commission), Binance is also not registered but they are monitoring it despite the fact that other investigations are still being conducted not only here but also in other countries such as France and the U.S. That is why because of these events the value of their BNB token was affected.
So far we have not really heard any Final updates on these events, because at the present time now we can still use Binance here in our country whether we want to transfer it via Coinsph, Gcash, or Bank account that we have. And I just hope that Binance will not be banned in our country because there are also many users here in our country.
Referrence:
- https://bitpinas.com/regulation/bsp-urged-to-ban-binance-for-illegally-operating-in-the-philippines/
- https://bitpinas.com/regulation/binance-response-infrawatch-bsp-ban-ph/
First question, is it possible to ban Binance in the Philippines?
According to the BSP (Bangko Sentral ng Pilipinas) there is a group or organization called INFRAWATCH PH that issued a letter to the BSP saying that one of the largest cryptocurrency exchanges in the world should be banned or suspended. Because it doesn't have a license to operate in our country, and if your gonna take a look at it, they are right. Because in order for you to be an official company related to exchange or virtual assets, you need to have a VASP (Virtual Asset Service Provider) and there are always associated requirements before you can have a license to operate in the Philippines. And some of the licenses here are Coinsph, PDAX and Paymaya which will soon be able to buy and sell crypto.
According to Binance, they have not yet formally received the letter about banning them here in the Philippines. And they are also ready to discuss about this matter because they are also ready to get a VASP license or even an E-money license.
And as far as I know, last June the CEO and Founder of Binance visited here and they plan to expand here in our country, and they also plan to provide a scholarship program and eventually the graduates will be able to work in the Binance company.
According to the SEC (Security Exchange Commission), Binance is also not registered but they are monitoring it despite the fact that other investigations are still being conducted not only here but also in other countries such as France and the U.S. That is why because of these events the value of their BNB token was affected.
So far we have not really heard any Final updates on these events, because at the present time now we can still use Binance here in our country whether we want to transfer it via Coinsph, Gcash, or Bank account that we have. And I just hope that Binance will not be banned in our country because there are also many users here in our country.
Referrence:
- https://bitpinas.com/regulation/bsp-urged-to-ban-binance-for-illegally-operating-in-the-philippines/
- https://bitpinas.com/regulation/binance-response-infrawatch-bsp-ban-ph/
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