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Binance is not registered as a corporation in the Philippines and operates without the necessary license and/or authority
On its website, Binance claims to operate a facility to trade financial instruments and offers investment products --including spot trading using leverage, futures contracts, option contracts, cryptocurrency savings accounts, cryptocurrency staking services, and a platform for initial coin offerings. While it appears that the operators of the platform are registered brokers/dealers overseas, in the Philippines, before securities and investment products can be sold or offeredto the public, the Securities Regulation Code requires: 1. That the securities being offered are registered with the Philippine Securities and ... (full story)