Binance ban in the Philippines seen as a major development for the Philippines’ cryptocurrency sector

As Binance is driven out of the market by Philippine regulators, Philippine cryptocurrency traders are facing the dilemma of rising transaction fees and fewer token options. Pouch CEO than Rose said that although the ban has led to higher transaction fees and fewer token options, it will help protect Philippine traders from bad behavior. He emphasized that the Binance ban has driven business to local exchanges, had a positive impact on the local economy, and helped Philippine crypto companies raise global investments. Overall, although the Binance ban has brought certain negative effects, it is also seen as a major development in the Philippine cryptocurrency field, which will help promote market regulation and sustainable development. (Cointelegraph)