By Karen Lema
The Philippines’ Securities and Exchange Commission has begun the process of blocking access to the world’s largest crypto exchange Binance, whose chief last week stepped down and pleaded guilty to breaking U.S. anti-money laundering laws.
The SEC said the operator of Binance was not a registered corporation in the Philippines and was operating without the necessary licence and authority to sell or offer any form of securities.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
