Philippines SEC Flags 10 Major Crypto Exchanges for Operating Without License

• OKX, Bybit, KuCoin, and Kraken are among the platforms cited for unauthorized operations
• New regulations under SEC Memorandums No.4 and No.5 took effect on July 5.
• Exchanges maintain Philippines accessibility despite lacking the required permits.

The Philippines Securities and Exchange Commission has issued warnings against ten major cryptocurrency exchanges operating without proper authorization under new regulatory frameworks. Platforms including OKX, Bybit, KuCoin, and Kraken are included in the release, as they still serve Filipino users despite the lack of necessary registrations.

SEC Memorandum Circulars No. 4 and No. 5, which became effective on July 5, establish mandatory licensing requirements for crypto service providers targeting the Philippine markets. The regulatory body stated these platforms lack the necessary permissions to operate domestically or solicit public investments within the country.

Additional Exchanges Face Regulatory Scrutiny

The complete list of flagged platforms includes MEXC, Bitget, Phemex, CoinEx, BitMart, and Poloniex, alongside the previously mentioned exchanges. According to SEC findings, most platforms maintain acti…

The post Philippines SEC Flags 10 Major Crypto Exchanges for Operating Without License appeared first on Coin Edition.