Key Points | Mar. 8, 2024 | Binance Ban Delayed — SEC Chairman | BitPinas

Welcome to BitPinas Key Points: Easily digestible news in concise formats for easy reading. Let’s check the latest crypto news stories in the last 24 hours in the Philippines and abroad.

Crypto Price Update

Market News

• Market remains stable, Bitcoin is around the $67,000 level despite dropping to as low as $59,000 in the hours following its lead to all-time high.
• Top story is Solana, printing a 10% increase to $146 in the past 24 hours. BNB is also up 10%

Shiba Inu to Flip Dogecoin?

As per Coingecko, Dogecoin is the 10th largest crypto, followed by Shiba Inu.

Philippine Crypto News

We begin with Philippine crypto news because of some developments in the Binance situation. Yes, it’s back in the headlines.

Binance Ban Delayed — SEC

Remember that on February 28, the SEC, through its spokesperson has replied to an email from BitPinas with regards to the blocking of Binance website. The SEC replied with the following statement:

“The SEC is currently evaluating all possible ramifications of the blocking, including implications to Filipino customer funds. We are also working with other government agencies on the procedure of restraining unregistered entities’ operations in the Philippines.”

SEC Spokesperson

In a report from Inquirer, SEC Chairman Emilio Aquino cited an ongoing transition within the Commission as the reason for delays in addressing the Binance issue. This comes after Hubert Dominic B. Guevarra replaced Kelvin Lee as Commissioner, following the end of Lee’s term in December.

Asked about the Binance situation, here’s Aquino’s response.

“There’s an ongoing discussion. I assure you it will be addressed.”

Emilio Aquino, Chairperson, SEC

What does it mean?

The fate of Binance remains uncerstain as the SEC continues to pursue a ban on the unlicensed exchange.

Despite reports, including contributed articles on BitPinas, arguing that the Binance website cannot be blocked without court order, the recent approval by the National Telecommunications Commission (NTC) of the SEC’s request to block MiTrade yesterday (and OctaFX today) serves as an indication that the SEC might indeed have the capability to enforce such actions directly.

Whether a Binance ban will be challenged or not, remains to be seen.

The story continues. Make sure you are following BitPinas on Facebook or on our newsletter to get updated.

More crypto news Philippines

• Kusho World, the community behind the aforementioned NFT collection has teamed up with University of the Philippines – Los Banos for a web3 focused event.

• NTC implements SEC directive to block unlicensed platforms, beginning with Mitrade.
• Recap: ETH63 Ethereum Meetup

Noteworthy

• The US Securities and Exchange Commission (SEC) is requesting court intervention to get information from Binance.US, which could indicate a potential regulatory battle.
• Authorities in South Korea have secured extradition rights for Do Kwon, co-founder of Terraform Labs, related to the UST stablecoin collapse.
• BlackRock’s iShares Bitcoin ETF continues to see significant inflows, reflecting growing institutional interest in cryptocurrency.
• JPMorgan: Expecting bitcoin to match gold in portfolios is unrealistic.
• Wormhole airdrop sparks some controversy.
• U.S. SEC postpones decisions on Bitcoin ETF options proposals.

Upcoming Event

A series of Solana Ecosystem Calls are happening in the Philippines tonight.

This article is published on BitPinas: Key Points | March 8, 2024 | Binance Ban Delayed — SEC

Disclaimer:

• Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
• BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://bitpinas.com/feature/key-points-2024-03-08/