Binance bullish on Philippines entry despite SEC denial

Binance Asia Pacific Manager Leon Foong says he isn't distracted by self-help efforts. -calling lobbying organizations to ban Binance.

Although the Philippine Securities and Exchange Commission has warned the public against investing with Binance, the crypto exchange remains positive and relentless in providing its services to the Southeast Asian country.

In an interview, Binance Asia-Pacific Head Leon Foong told Cointelegraph that they are very optimistic about the possibility of entering the Philippines. The executive pointed out that despite efforts by a lobby group to ban Binance, the company will continue to focus on trying to bring the benefits of crypto to the country. He explained that:

"We tend not to be really distracted by what some of these other so-called lobby organizations are doing. Instead, we want to focus on how we continue to provide our users with a better experience."< /p>

Foong believes blockchain technology will be a key driver of financial inclusion and provide a huge opportunity for Filipinos. According to Foong, technology investments used to be reserved for wealthy individuals. But with crypto and blockchain, the opportunity to invest in these projects is open to the masses around the world. He said that:

“If you look at how crypto and how digital assets have developed over the years, it has actually opened up opportunities for investing in new technologies and new projects.”

Apart from that, the Binance executive also shared their views on how the country can increase its volume of foreign direct investment. Foong said this requires a regulatory framework that welcomes local and global players and rules that support competition, innovation and user protection. Finally, the executive said that the neck...