Overview
- The securities regulator issued a new advisory warning investors about seven platforms it says operate without approval, naming dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium.
- The commission said none of the named platforms is registered under the country’s crypto‑asset service provider rules, which require a license plus capital and operational controls before serving local users.
- The SEC warned promoters and operators that violations under Sections 28 and 73 of the Securities Regulation Code can bring fines up to 5 million pesos or prison terms of up to 21 years.
- Officials pointed to recent actions that moved beyond notices to technical blocks, with access to Binance, Coinbase, and Gemini already restricted through ISP-level blocks and app-store removals.
- Regulators contrasted offshore, unregistered services with licensed local options, highlighting domestic rollouts such as PDAX with Toku for stablecoin payrolls and GoTyme’s tie-up with Alpaca for retail access.