The post Philippine SEC Warns Unregistered Crypto Exchanges, Targets OKX, Bybit, and Kraken appeared on BitcoinEthereumNews.com.

The Philippine SEC has reportedly issued a warning against ten unlicensed crypto exchanges, including OKX, Bybit, and Kraken. According to the SEC, these exchanges have been operating without the necessary authorization under the country’s new crypto regulations. 10 Crypto Exchanges Face Scrutiny in the Philippines In the latest crypto regulatory development, the Philippine SEC has launched a crackdown on unregistered digital asset exchanges. These platforms include OKX, Bybit, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart, and Poloniex. Commenting on these digital asset exchanges’ failure to adhere to the country’s licensing laws, the SEC stated, These platforms have no license, registration, or authorization from the SEC to operate in the Philippines or to solicit investments from the public. Their actions are unauthorized and expose Filipino investors to significant risk. Notably, the SEC claims that these platforms are operating in non-compliance with the SEC Memorandum Circulars No. 4 and No. 5, which took effect on Tuesday. As per the claim, the crypto exchanges are offering services to Filipino users without the required registration under the country’s crypto regulations. More Crypto Exchanges to Face Scrutiny? Further, the SEC warned that the list of non-compliant platforms is not exhaustive, and other unregistered entities offering similar services also risk violating Philippine securities laws. The SEC vowed to pursue legal and regulatory action, including working with Google, Apple, and Meta to curb unauthorized marketing by these platforms. Source: Philippine SEC; List of Unregistered Crypto Exchanges The notice stated, These Rules apply to any person or entity that offers, promotes, or facilitates access to crypto asset trading venues or intermediation services such as buying, selling, and derivatives trading of crypto assets. This move reflects the Philippine SEC’s regulatory crackdown on the crypto exchange Binance last year. In April 2024, the financial watchdog blocked Binance, restricting local users’ access…

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Filed under: News - @ August 5, 2025 1:28 pm