Philippine SEC Warns Public Over Seven Unregistered Crypto Trading Platforms

Highlights:

• The Philippine SEC has warned investors against using seven unregistered crypto platforms in the country.
• Regulators have imposed strict penalties on promoters who support unlicensed crypto platforms.
• Philippine regulators also recently blocked major crypto platforms for failing to register.

The Philippine Securities and Exchange Commission issued an investor alert on Tuesday against seven unregistered crypto trading platforms. The regulators named dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium. The Philippine SEC warned investors not to use these platforms because they operate without legal approval. It said these platforms appear to offer investments that promise profits or returns.

PHILIPPINES SEC FLAGS DYDX AND SIX PLATFORMS IN INVESTOR WARNING

The Philippine SEC has issued a public alert against dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium.

Regulators say these platforms are not registered or authorized in the country. Authorities warned they… pic.twitter.com/VFkRzorBph

— BSCN (@BSCNews) April 21, 2026

The Commission confirmed that none of these entities is registered as a corporation or partnership in the Philippines. It also found that none hold authorization under the Crypto-Asset Service Provider framework. This framework requires firms to secure licenses before offering crypto services locally. As a result, these platforms cannot legally operate in the country.

The SEC clarified that it considers such offerings as securities since they involve profit expectations. It further stated that sites that are not registered are not under its supervision and reporting. The regulator also advised investors to make sure that the platform is registered by checking the official SEC records before investing.

It also warned users to avoid platforms that guarantee returns, since such claims often signal unregulated schemes. The Commission aims to reduce exposure to unauthorized investment platforms.

Philippine SEC Warns of Legal Risks for Crypto Promoters

The Commission warned that individuals who promote these platforms may face criminal charges under Philippine law. This group includes agents, brokers, influencers, recruiters, and endorsers. The SEC stated that any promotion tied to these platforms may lead to enforcement action. This includes referrals, online promotions, and public endorsements.

Under Sections 28 and 73 of the Securities Regulation Code, authorities may impose strict penalties. Violators may face fines of up to five million Philippine pesos. Courts may also impose prison terms of up to 21 years. In some cases, authorities may apply both penalties. The SEC explained that these penalties aim to prevent fraud and reduce investor losses during active market periods.

The framework requires all crypto firms to register before offering services in the Philippines. It also requires a physical office within the country. In addition, firms must maintain a minimum paid-up capital of ₱100 million. They must also meet governance and operational standards set by the SEC.

These rules require firms to disclose operations and follow compliance procedures. This allows regulators to track market activity and enforce accountability. Only firms that meet these conditions can legally offer crypto services to the public.

Crackdown Grows While Regulators Block Access and Tighten Cryptocurrency Rules

The most recent Philippine SEC warning follows crackdowns on unregistered crypto platforms in the Philippines. In December last year, authorities blocked Coinbase and Gemini from serving local users. Earlier, authorities acted against Binance after it failed to meet compliance deadlines. Regulators also instructed app stores to remove the platform from local access. This action restricted user access within the country.

In August last year, the SEC issued another advisory targeting several global exchanges. These included OKX, Bybit, KuCoin, and Kraken. The regulator said these platforms offered services without required registration.

🚨 Philippine SEC Cracks Down on Crypto Giants

The Philippine Securities and Exchange Commission has flagged 10 major crypto exchanges—including OKX, KuCoin, and Kraken—for operating without proper registration. These platforms allegedly violated new digital asset regulations… pic.twitter.com/RFmbHvo80P

— Seven (@SevenWinse) August 5, 2025

At the same time, licensed firms are expanding services under the regulatory framework. PDAX partnered with Toku to enable stablecoin salary payouts for users. GoTyme also launched crypto services through its partnership with Alpaca.