Philippines SEC warns against 7 unlicensed crypto platforms, threatening fines and jail for promoters.

The Philippine Securities and Exchange Commission (SEC) has issued a warning against seven crypto trading platforms—dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium—operating without proper licenses under the country's Crypto-Asset Service Provider framework. These platforms are allegedly offering investment opportunities without complying with local securities laws, putting investors at risk. The SEC cautioned that promoters of these platforms could face fines up to 5 million pesos and imprisonment up to 21 years. This action is part of a broader crackdown on unauthorized crypto firms in the Philippines, aiming to protect investors and ensure compliance with regulatory standards.