Local exchanges are just trying to ruin the reputation of Binance so they can get the local market, I don’t think BSP will in favor them because in the first place Binance has no company in the Philippines. Binance is the best, i do hope that they will not ban Binance because it helps many Filipinos already, Binance is willing to cooperate and let them come. We badly needed the best exchange, so I’m not supporting this one Binance should stay.
Let’s not panic and just wait for the due process. There’s no formal complaint, its just a paper telling BSP to ban Binance without any legal basis. Though its alarming about the SEC announcement, hopefully this case wont escalate and can still be settled before making any decisions. I agree that we need Binance, but let’s respect our regulatory agency, if they see irregularities then its fine but if none, better to scrap this issue right away.