Philippine SEC Warns Unregistered Crypto Platforms Pose Risk to Investors

The Philippine SEC has taken a stern stance against unregistered crypto platforms operating in the country.

The commission's advisory names seven platforms, including dYdX, Aevo, and Deriv, which have been offering investment opportunities without proper registration or licenses. The SEC emphasizes that these platforms are running afoul of local securities law, putting investors at risk of potential fraud.

The Philippine government has implemented regulations to protect investors from scams and financial harm in the growing crypto sector.