The Philippine Securities and Exchange Commission (SEC) has announced it will block all access to Binance, the global cryptocurrency exchange, for users in the country due to unlicensed operations. This decision, supported by the National Telecommunication Commission, is due to Binance operating without the necessary license and is seen as a threat to the security of investor funds in the Philippines. The ban, which targets Binance's main website and related platforms, including investment products like leveraged trading and crypto savings accounts, is set to take effect in three months, allowing users some time to withdraw their assets.