THE Securities and Exchange Commission (SEC) has warned the public against unregistered cryptocurrency trading platforms, saying these entities are not authorized to solicit investments in the country.
In separate advisories issued on March 31, 2026, the regulator identified platforms including GTRADE, dYdX, Orderly Network, Aevo, Pacifica, Deriv, Ostium and Vest Markets as operating without the necessary registration or license.
The agency said these entities were presenting themselves as decentralized trading systems offering access to crypto assets and derivatives trading through blockchain-based infrastructure.
“These activities may constitute the offering and sale of securities to the public,” the SEC said, citing provisions of the Securities Regulation Code.
The regulator stressed that none of the platforms were registered as corporations in the Philippines and had not secured authority to operate as brokers, dealers, or crypto-asset service providers.
The SEC added that under its rules, all entities, local or foreign, must secure registration before offering crypto-related services to Philippine-based users.
It also warned that individuals promoting or endorsing such platforms, including online influencers and recruiters, may face criminal liability, with penalties of up to P5 million in fines or up to 21 years of imprisonment.
“In view thereof, the public is strongly advised to exercise caution before investing in unregistered cryptocurrency trading platforms,” the SEC said.