Philippine regulators crack down on 7 unlicensed crypto platforms including dYdX and Aevo

Philippine financial authorities have intensified enforcement against seven cryptocurrency platforms operating without licenses, including notable names like dYdX and Aevo. These platforms were found soliciting investments from local users without proper regulatory approval, prompting actions such as access restrictions and potential criminal penalties. The crackdown is part of a broader effort to secure the digital asset market by ensuring all operators comply with registration and capital requirements. Regulators continue to block unauthorized platforms and encourage licensed firms to operate within the legal framework, aiming to protect investors from financial and security risks.