Philippine SEC Issues Warning Against dYdX and Six Crypto Platforms
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Philippine SEC warns dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium are not registered or authorized to solicit investments in the Philippines. Regulator notes promoters could face penalties up to ₱5 million in fines or up to 21 years imprisonment; dYdX is specifically flagged in the advisory. Move heightens crypto/DeFi/DEX regulatory and compliance risk, likely to weigh on local adoption and market confidence.
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- The Philippine SEC warned investors against dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium.
- The regulator said the platforms are not registered with the Commission and do not hold approval under the country’s crypto framework.
- The SEC said promoters of these platforms in the Philippines could face fines of up to 5 million pesos or prison of up to 21 years.
The Philippine Securities and Exchange Commission has warned the public not to invest in dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium, saying the platforms are not registered or authorized to solicit investments in the country. According to the regulator’s latest public alert, the platforms appear to be offering investments to the public in exchange for promised returns, profits, or interest.
The warning keeps the focus on dYdX, which the SEC said is not registered as a corporation, pa…
Read The Full Article Philippine SEC Issues Warning Against dYdX and Six Crypto Platforms On Coin Edition.
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