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NTC orders internet providers to block website of Binance

Published Mar 26, 2024 07:40 am

Following a request from the Securities and Exchange Commission (SEC), the National Telecommunications Commission (NTC) ordered internet providers to block access to Binance's website — the world's largest cryptocurrency exchange.

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(NTC / Manila Bulletin)

In a statement issued on March 25, the NTC instructed all internet service providers (ISPs) to "immediately block access" to the Binance website, specifically (https://www.binance.com/en).

NTC said the Memorandum was issued after the commission received a letter from the SEC that raised concerns that the website was potentially threatening the country's finances.

"In order to prevent the further proliferation of its illegal activities in the country and to protect the investing public from its detrimental effects on our economy," the statement read.

The department added that the NTC gave the ISPs a "five days" period to submit a report on the action they took regarding a memo they received.

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Binance Securities and Exchange Commission (SEC) National Telecommunications Commission (NTC)
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