It’s almost a month after the specified date when the Philippine SEC was supposed to ban Binance.
So how did it go?
As of post time, the SEC hasn’t gone after Binance yet. In a previous post, I mentioned that the best that the SEC can do is to mandate ISPs to block access to Binance. However, it appears that they are delaying their decision to do so.
Can the SEC really block access to Binance?
Well, they certainly can. If you’re not aware, the SEC has requested NTC to block websites/app of MiTrade. And they were successful in doing so. If you try to access the website of MiTrade, you won’t be able to access it unless you use a VPN.
As of now, there’s no time frame provided by the SEC as to when they will request NTC to have Binance blocked in the country.
Blogger’s Corner
As for me, I still use Binance. If the SEC somehow pushes through with blocking access to Binance, I can simply access it using a VPN.
The main reason why I’m staying with Binance is because I like their “earn” feature. While waiting for the price of Bitcoin to go up, you can have it on “Flexible earn” and get a reward of 0.32% per annum interest. Or if you’re wary, you can buy stable coins and earn as high as 25% p.a. interest. If and when our local exchangers (GCash, Maya or CoinsPH) offer that kind of feature, that’s the only time I’ll probably consider switching.
The only other reason for me to quit Binance is if they declare that they will no longer cater to Philippine residents. But until then, I’ll stay with Binance.