The Philippine Securities and Change Fee (SEC) has issued a warning towards ten unregistered crypto entities and on-line platforms, together with OKX, Bybit and Kraken.
The regulator, on Monday, highlighted non-compliance points in offshore crypto exchanges, warning the general public towards participating with them.
The ten crypto exchanges provided providers to Filipinos with out the required registration or authorization from the Fee, as mandated beneath SEC CASP Guidelines and Pointers, which got here into impact on 05 July 2025.

“These platforms don’t have any license, registration, or authorization from the SEC to function within the Philippines or to solicit investments from the general public,” the SEC famous. “Their actions are unauthorized and expose Filipino traders to important threat.”
Philippines SEC to Take Enforcement Motion In opposition to Violators, Much like Binance
In April 2024, the monetary regulator of the Philippines blocked native person entry to Binance, citing issues over the agency’s unlicensed operations within the nation. The motion left residents unable to withdraw their funds.
The SEC terminated Binance’s web site entry and on-line buying and selling platform after receiving the help of the Nationwide Telecommunication Fee (NTC).
Moreover, the regulator stated on the time that blocking Binance from app shops like Google and Apple shops would assist “stop the additional proliferation of its unlawful actions within the nation.”
On the same observe, the SEC stated Monday that upon compliant, the Fee shall take authorized and regulatory motion towards the ten violators. This consists of issuance of stop and desist orders, blocking their web sites and apps, and submitting of legal complaints, amongst others.
Apart from the ten crypto companies, the Philippine SEC flagged that a number of different platforms stay accessible and are conducting unauthorized advertising and marketing actions concentrating on Filipino residents.
The advisory additionally raised issues concerning nationwide safety, warning that unauthorized crypto platforms pose excessive dangers for cash laundering and terrorist financing.
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