The Philippines Security and Exchange Commission (SEC) has mandated the removal of the Binance application from Google and Apple stores for users within the Philippines. This directive, stemming from security threats to investors and the imperative to safeguard the local economy, follows the SEC and the National Telecommunications Commission's (NTC) earlier blocking of Binance websites on March 25. According to an SEC release, Google and Apple received separate letters on April 19 regarding the app removal, with the regulator confirming its collaboration with these tech giants on removing "applications operated by cryptocurrency giant Binance." The SEC emphasized that "the public’s continued access to these websites/apps poses a threat to the security of the funds of investing Filipinos."

Emilio B. Aquino, Chairman of the SEC, stated that Binance's activities, including offering or selling unregistered securities to Philippine locals and operating as an "unregistered broker," are in violation of the country's securities regulations. He underscored that removing Binance applications from digital marketplaces would help "prevent the further proliferation of its illegal activities in the country," warning of potentially "detrimental" effects on the local economy otherwise. The SEC's campaign against crypto exchanges, which also involves the NTC, began in February, targeting unlicensed crypto trading platforms. Warnings against using Binance for investing have been active since November 2023, with the agency asserting that Binance lacks the necessary license to solicit investments or operate an exchange for securities. Following the official ban enforcement on April 8, an SEC official reiterated that users had been given three months, plus an extension, to withdraw their funds, after which the SEC could not endorse any retrieval methods.

Binance, a significant player in the global cryptocurrency market, commanded 58% of the total spot trading volumes among centralized exchanges as of March 2024 and operates the largest derivatives market. However, the firm is currently navigating various regulatory challenges worldwide, indicating broader "global trials" beyond the Philippines.

In Canada, Binance is facing a new class-action lawsuit in Ontario. The Ontario Superior Court of Justice published a certification motion on April 19 for this lawsuit, which alleges that Binance sold crypto derivative products to retail investors without proper registration. This legal action follows Binance's announcement in June 2021 that it would cease operations in Ontario after receiving a warning from the Ontario Securities Commission (OSC).

Concurrently, in Nigeria, two Binance executives, Tigran Gambaryan, head of financial crime compliance (a U.S. citizen), and Nadeem Anjarwalla, regional manager for Africa (a British Kenyan), are undergoing a court trial over tax evasion and money laundering charges. The Nigerian government arraigned Gambaryan at an Abuja court on four counts, including non-payment of value-added tax (VAT), company income tax, failure to file tax returns, and aiding customers in evading taxes via the Binance platform, along with failure to register with the Federal Inland Revenue Service (FIRS). Gambaryan appeared in court in Abuja on a Friday but did not enter a plea, while Anjarwalla fled the country the previous month. The federal high court in Abuja adjourned the tax evasion trial to May 17. It is important to note that Binance itself has not been charged in Nigeria.