Philippines Regulator Warns Against Unregistered Crypto Platforms

The Philippine Securities and Exchange Commission (SEC) has taken a stricter stance on cryptocurrency trading platforms operating in the country without proper authorization. In a recent public investor alert, the regulator named seven platforms that are not registered or authorized to solicit investments: dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium.

The SEC stated that these platforms appear to offer investments with promised returns, profits, or interest, which is prohibited under the local securities laws. This move highlights a broader shift towards stricter enforcement in the Philippines, where regulators have increasingly moved from warnings to access restrictions.