The Securities and Exchange Commission (SEC) is confident that Binance may soon be removed from the Google and Apple app stores. The Philippine corporate regulator is hopeful that both tech companies will respond positively to their request to withdraw the cryptocurrency giant’s applications from the country's app marketplaces.

Last April, the SEC requested that Google and Apple remove Binance's applications from their platforms. In an interview with Philstar, SEC Commissioner McJill Bryant Fernandez stated that Google has requested certain documents but has shown a willingness to cooperate regarding the issue.

“I think they (Google) are just asking for some documentation but I don’t think it is really a reservation for them to block. On Apple, I have no update.” - McJill Bryant Fernandez, SEC Commissioner

The SEC has stated that the removal and blocking of Binance's applications are intended to prevent the further spread of its illegal activities in the Philippines and to safeguard the investing public from the harmful effects on the economy. Further, the commission has been warning the public against investing in and using Binance since November of last year. 

NTC Takes Action Against Binance Amid SEC Warnings on Unauthorized Operations

During its meeting in March, the SEC en banc approved a formal request to the National Telecommunications Commission (NTC) for assistance in blocking the website and other pages associated with Binance to halt its unauthorized investment solicitation activities within the country — NTC swiftly instructed all internet service providers to block access to Binance's website as part of the government's crackdown on the activities of the cryptocurrency trader. 

According to SEC, Binance offers a platform for trading various financial instruments and investment products, including spot trading with leverage, futures contracts, options contracts, as well as services for cryptocurrency savings, staking, and initial coin offerings. However, the SEC has emphasized that Binance lacks the necessary license to solicit investments from the public or to operate as a securities exchange.