The Philippines Securities and Change Fee (SEC) has issued an advisory flagging 10 main worldwide cryptocurrency exchanges for working inside the nation with out mandatory licenses.
Fashionable exchanges together with OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart and Poloniex made the checklist.
A 4th August 2025 advisory from the SEC mentioned, “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.”
After Binance… PH SEC 🇵🇭 Flags these CEXes and wished 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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“Checklist of ten exchanges just isn’t exhaustive,” Says Phillippines SEC
The SEC additionally insisted that the principles are designed to use broadly to anybody who “presents, promotes, or facilitates entry to crypto-asset buying and selling venues or intermediation providers.”
In response to the SEC, their continued operation exposes native customers to appreciable dangers, as they perform outdoors the authorized framework established to safeguard traders. The regulator was warned of impending enforcement actions. The motion can embrace stop and desist orders, and legal complaints.
“Their actions are unauthorized and expose Filipino traders to important danger, together with complete lack of funds, no authorized recourse, publicity to fraud, market manipulation, and id theft,” the SEC mentioned.
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SEC within the Philippines flexing on crypto prefer it’s a health club membership! Unregistered exchanges getting the boot? LOL, good luck with that! #RegulationIsComing #CryptoChaos
This information is unfavourable.
— PM Cypher (@pm_cypher) August 5, 2025
The Philippines SEC mentioned it can work with Google, Apple and Meta to curb the advertising actions of those unauthorized exchanges. The authorities may doubtlessly block their apps. There may be additionally the chance that customers could also be given a restricted window to withdraw their funds. Subsequently, the transfer has drawn important criticism from crypto traders, with most lashing out on X. “This information is unfavourable,” insisted a person.
In the same 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 checklist of exchanges working within the nation with out mandatory licenses.
For now, the exchanges stay accessible within the Philippines. Many proceed to keep up an energetic native advertising presence. Nevertheless, the SEC’s public advisory serves as a ultimate warning.
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