A few weeks ago, SEC Philippines released an announcement/warning to the public that the Binance Exchange is not a registered exchange in our country and illegally operates without a license.
Right now, Binance was given 3 months from November 29 to comply with the regulations of the Philippines.
This news was not only for Binance but the other centralized exchanges that are unregistered will also be banned.
We have a local wallet exchange that we can use (e.g. coinsph, gcash, pdax), however, Filipino crypto users find it more convenient to use Binance P2P transactions.
How about in your country, is it legal or illegal to use crypto?
How does the government make its move against CEX?