The Philippines Securities and Exchange Commission (SEC) issued an opinion from 10 major international cryptocurrency grants against operations in the country without necessary licenses.
Popular exchanges, notably OKX, Bybit, Kucoin, Kraken, Mexc, Bitget, Phemex, Coinex, Bitmart and Poloniex have made the list.
An opinion of August 4, 2025 of the SEC said: “These platforms have no license, registration or authorization of the SEC to operate in the Philippines or to request public investments.”
After the Binance … dry pH
Hit these CEXs and wanted people to use local clowns (which are super slow and have costs from above)
SRC: pic.twitter.com/oyp94a10kn
– Jannabi
Hit these CEXs and wanted people to use local clowns (which are super slow and have costs from above)
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“The list of ten exchanges is not exhaustive,” explains Phillippines dry
The SEC also insisted that the rules are designed to apply widely to anyone “offers, promotes or facilitates access to the negotiation areas of Crypto-Asset or intermediation services”.
According to the SEC, their continuous operation exposes local users to considerable risks because they operate outside the legal framework established to protect investors. The regulator has been warned of the imminent application measures. The action may include prescriptions to stop and abstain and criminal complaints.
“Their actions are not authorized and exhibit Philippin investors at significant risks, in particular Total loss of funds, no legal appeal, exposure to fraud, market manipulation and identity theft, “said the dry.
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The most immediate concern for users is the possibility of losing access to platforms
Dry to the Filipino bending on the crypto as if it was a subscription to the gymnasium! Are unregistered exchanges get the boot? Lol, good luck with that! #Regulationis Netter #Cryptochaos
This news is negative.
– PM Cypher (@pm_cypher) August 5, 2025
The Filipino’s dry said that it would work with Google, Apple and Meta to limit the marketing activities of these unauthorized exchanges. Authorities can also potentially block their applications. It is also possible that users have a limited window to withdraw their funds. Consequently, this decision has aroused significant criticism from crypto investors, most of them who are unleashed on X. “This news is negative,” insisted a user.
In a similar decision last year, the SEC ordered Google and Apple to remove the Binance application from their local application stores. The authorities have cited investor protection problems.
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Main to remember
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Popular exchanges, notably OKX, Bybit, Kucoin, Kraken, Mexc, Bitget, Phemex, Coinex, Bitmart and Poloniex, have list the exchanges of the dry Philippines operating in the country without necessary licenses.
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For the moment, exchanges remain accessible to the Philippines. Many continue to maintain an active local marketing presence. However, the Public Council of the SEC serves as a final warning.
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