Bybit, Okx is named in SEC Advisory – Philippines is preparing to ban exchanges unlicensed?

Securities and Exchange Commissions of the Philippines have named ten Crypto exchanges, including Tier -1 platforms such as Bubles and OKX, warning to work with registration and potential enforcement action under its new regulator Framework.

In an advisor published on August. 4, The Securities Regulatory said that these platforms have failed to follow the country’s newly implemented Crypto Asset Services Provider (CASP) rules, compulsory for formal registration, corporate, and anti-laundering safety measures.

Which exchanges have been marked by SEC?

Advisor especially lists the following exchanges as accessible and active in the Philippines: Okx, bybit, mexc, kucoin, bitget, phemex, coinx, bitmart, poloniex, and kraken.

The other one of these platforms continues to maintain a string marketing that targets the film targeting the film, which lacks a license or registration.

While the name of ten major platforms in this list, the regulator emphasized that the advisor is not complete. Any unit offering Crypto-asset services to Philippine users with registration is being considered to work properly under local securities.

The IC order for SEC, unauthorized operation of these platforms exposed Philipino investors to a rank of risks, including the total loss of funds, fraud, market manipulation and identity theft. Without regulatory inspection, users have no legal recurrence in the event of loss or misconduct.

The other warned that such platform couch was used for money laundering or terrorist financing. As unregistered institutions, these exchanges are not subject to anti-moving act requirements that apply to licensed virtual asset service in the Philippines.

Is SEC threatening a bank?

The SEC has clearly not declared a lump sum restriction on ten exchanges, but its languages and recent history suggest that strong environment measures are immune.

The Commission said that it could pursue a wide range of enforcement acts against vioolators.

These action may include conflict and desired orders, criminal complaints, blocking access to websites and mobile applications, and coordination with global technical platforms, such as Gocol, Apple, Meta and Tikok, to remove unauthorized crypto promotion targeting Philippine users.

These are not useless threats. In fact, the Commission has already followed the same steps in its crack on the world’s largest Cryptocurrency Exchange Binense.

At the end of 2023, the second binense is offered unignted securities and is served as an unlicensed broker. The regulator gave users 90 days to get out of the stage. By March 2024, the National Telecom Commission had blocked the access to the website of the Benance.

This action against Binance now appeared as a blueprint, which serves as a blueprint for other motifies nominated in the latest consultant.

While the regulator has reduced the use of the term “restriction”, the example set by the bennese case is that contractions are for non -condensation.

For designated exchanges, the failure to secure the appropriate authority under the CASP Framework may soon result in completely removal from the Philippine market.

The Philippines starts regulating Crypto exchanges

The safe advisor did not specify a new time limit for complaints, but stated that the Crypto Asset Service Provider (CASP) rules had affected by Alledy on July 5, 2025

The issue under Secular Nose earlier this year. The series of 4 and 5, 2025, Framework requires all crypto-transport service providers offering services in the Philippines to registrate, disclosure and follow the operational standards from that date.

Under the new rules, CASPS Methister maintains a physical officer with a minimum payment-up capital of ₱ 100 million (~ US $ 1.8 million) as domestic corporations, maintain a physical officer with counting, and submit a detailed documents on digital asset proposals and commercial operations on them.

Any unit control with operating without registration