Philippine SEC warns investors against dYdX and six crypto platforms for operating without authorization.

The Philippine Securities and Exchange Commission (SEC) has issued a warning against dYdX and six other crypto platforms—Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium—for operating without registration or authorization in the country. These platforms appear to offer investment opportunities promising returns, but none are licensed under the Philippines' crypto-asset service provider framework. Violators and promoters face fines up to 5 million pesos or imprisonment up to 21 years. Enforcement is intensifying, with authorities moving beyond warnings to blocking access to unlicensed platforms, while licensed local firms continue to expand compliant crypto services.