Philippine regulator tightens control over unlicensed crypto exchanges
Date: 2025-08-06 Author: Gabriel Deangelo Categories: IN WORLD
The Securities and Exchange Commission of the Philippines (SEC) announced plans to block 10 more crypto exchanges operating in the country without permission. The list includes such popular platforms as OKX, Bybit, and MEXC. The regulator intends to restrict access to their websites and mobile applications.
The SEC cites the failure of these platforms to comply with anti-money laundering (AML) and terrorist financing requirements as the main reason for such steps. Users are urged to refrain from storing and trading cryptocurrencies through these services.
Recall that the active phase of the fight against illegal crypto exchanges began in March 2024. At that time, MiTrade, OctaFX, and a number of other local platforms were subject to sanctions. Later, the restrictions were extended to Binance. All these measures included blocking access to websites and applications, as well as appeals to tech companies to remove advertising materials.
The latest press release from the Philippines SEC notes that the regulator has identified new cases of illegal activity in the crypto space. Another list of platforms that continue to operate without official permission will be added to the existing bans.
Among the new measures that are planned to be implemented are filing official requests to Internet service providers to block domains, as well as appeals to Apple, Google and other IT giants with a request to remove advertising and marketing materials from these platforms.
The regulator emphasizes that users are exposed to increased risk when interacting with such services, because they do not provide guarantees for the security of funds and are not subject to Philippine law.
It is worth noting that tightening control over cryptocurrency platforms is observed not only in the Philippines. Similar actions are being taken in Thailand, where access to five crypto exchanges has also been restricted since June 2025 at the initiative of the local regulator.
Thus, the Philippines continues its course towards creating a transparent and regulated cryptocurrency market, minimizing risks for investors and users.
