Binance May Be Blocked in Philippines for Conducting Illegal Advertising Campaigns

Philippines-based think tank Infrawatch PH has recently asked the Department of Trade and Industry to investigate Binance for illegal sales promotion.

In a letter sent to the ministry it was reported that the promotions were conducted without the permission of the authorities and without a license number and registration in the Philippines.

The local company believes the hard-earned money of the people can be lost forever in the unregulated crypto exchange.

Binance has earlier said that it is ready to interact with the global financial structures, but so far the license of the virtual asset service provider has been obtained in a small number of countries.