The Philippines Securities and Alternate Fee (SEC) has issued an advisory flagging 10 main worldwide cryptocurrency exchanges for working inside the nation with out needed licenses.
Fashionable exchanges together with OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart and Poloniex made the record.
A 4th August 2025 advisory from the SEC stated, “These platforms haven’t any license, registration, or authorization from the SEC to function within the Philippines or to solicit investments from the general public.”
After Binance… PH SEC Flags these CEXes and needed folks to make use of native CEXes (that are tremendous sluggish and have over-the-top charges) clowns
src: https://t.co/ifY3rjW39X pic.twitter.com/OYP94A10Kn
— JANNABI
(@JANNABI_L3gend) August 5, 2025
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“Record of ten exchanges just isn’t exhaustive,” Says Phillippines SEC
The SEC additionally insisted that the foundations are designed to use broadly to anybody who “gives, promotes, or facilitates entry to crypto-asset buying and selling venues or intermediation companies.”
In response to the SEC, their continued operation exposes native customers to appreciable dangers, as they operate outdoors the authorized framework established to safeguard traders. The regulator was warned of impending enforcement actions. The motion can embody stop and desist orders, and legal complaints.
“Their actions are unauthorized and expose Filipino traders to vital danger, together with complete lack of funds, no authorized recourse, publicity to fraud, market manipulation, and id theft,” the SEC stated.
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Most Rapid Concern for Customers is Risk of Shedding Entry to Platforms
SEC within the Philippines flexing on crypto prefer it's a gymnasium membership! Unregistered exchanges getting the boot? LOL, good luck with that! #RegulationIsComing #CryptoChaos
This information is detrimental.
— PM Cypher (@pm_cypher) August 5, 2025
The Philippines SEC stated it is going to work with Google, Apple and Meta to curb the advertising actions of those unauthorized exchanges. The authorities also can probably block their apps. There may be additionally the chance that customers could also be given a restricted window to withdraw their funds. Due to this fact, the transfer has drawn vital criticism from crypto traders, with most lashing out on X. “This information is detrimental,” insisted a consumer.
In an analogous transfer final yr, the SEC efficiently directed Google and Apple to take away the Binance App from their native app shops. The authorities cited investor safety considerations.
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Key Takeaways
Fashionable exchanges together with OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart and Poloniex made the Philippines SEC record of exchanges working within the nation with out needed licenses.
For now, the exchanges stay accessible within the Philippines. Many proceed to take care of an energetic native advertising presence. Nonetheless, the SEC’s public advisory serves as a remaining warning.
The put up Philippines SEC Points Warnings To OKX, Bybit, Kraken For Non-Compliance appeared first on 99Bitcoins.
