The Philippine Securities and Exchange Commission (SEC) has issued a public warning against ten offshore cryptocurrency exchanges, including major players OKX and KuCoin, for operating without the necessary licenses. This action, announced on August 5, 2025, highlights a significant increase in regulatory enforcement in the country.
The SEC's move is part of its ongoing effort to tighten regulations and follows recent actions against other platforms like Binance. The warning is based on new compliance standards outlined in Memorandum Circulars No. 4 and 5, which require exchanges to have proper authorization to operate.
So far, the named exchanges have not made any formal public statements in response to the warning. However, the decision has sparked discussions within the local crypto community about how this might impact their access to these platforms and the future of crypto trading in the Philippines. The SEC's action indicates that to continue operating in the country, these exchanges will need to adopt strict compliance measures.
August 2025, Cryptoniteuae