Status of CEX in your country

[armanda90]

In my country Indonesia have good viewed with bitcoin although not legal for payment currency transaction but allow as investment assets and trading with local exchange. For binance still legal but not banned operation yet we can trade, withdraw and selling fiat trough P2P exchange transaction. I am so sorry with OP about Binance have been restrict with your country because we can easily sell and buy stable coins trough P2P because in my local exchange get fees deposit local currency if want to buy bitcoin or altcoin.
Used P2P to buy stable coins trough Binance easily and not have to get fees deposit fund, just looking for trusted seller of P2P we can make direct transaction.

[kulkhan]

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?

I am very sorry Because in our country CEX is not accepted in our country. Not only CEX but also all cryptocurrency are illegal in our country. Also it is illegal and our country. Our central Bank recently banned all transection of cryptocurrency. And some times our police arresting for cryptocurrency transection

[milewilda]

So with those talks of banning, then it didnt happen through.

MANILA, Philippines — A potential Philippine government ban on global crypto trading giant Binance was delayed due to a reshuffle at the top ranks of Securities and Exchange Commission (SEC).
Source

Well i have been able to expect that there would really be those sudden delays on which i do believe that banning would be pointless or simply having
some under the table kind of discussions or whatsoever.Its just an assumption though.

[Z-tight]

Centralized exchanges are expected to receive license from the country they operate in, and without that license it can be said that they are operating illegally, that is how this things work. However i don't believe that the government does this because they want to protect their citizens, but they want to easily have a way to track addresses connected to an exchange and be able to request info from the exchange.

[Stompix]

I wonder that if we count them all Binance isn't banned or dens not own a license in more countries that is does so!

So not even counting the US where CZ is awaiting trial, they had lost their licenses in Canada, France, UK, Australia, India, Japan, Italy, China, Belgium, Vietnam now Nigeria  and probably the list is way longer!
Oh, forgot how CZ claimed they have a headquarter in Malta when they actually didn't have a license to operate there either!

[Freemind]

Centralized exchanges are expected to receive license from the country they operate in, and without that license it can be said that they are operating illegally, that is how this things work. However i don't believe that the government does this because they want to protect their citizens, but they want to easily have a way to track addresses connected to an exchange and be able to request info from the exchange.

Of course, governments don't do this to protect citizens. Governments do this to have greater control over citizens, to know which citizens use cryptocurrencies and what they do with the profits. That way, they could access transaction histories from years ago and demand liability in the form of taxes and penalties for not reporting profits. It is for these reasons that exchanges with KYC are becoming more strict and add in their TOS that they can request documents of different types from users at any time. It's not protection, it's control, but fortunately we have decentralized exchanges to avoid that.