Key Highlights
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Philippine securities regulator targets seven crypto platforms for unlicensed operations
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dYdX and Aevo included in latest enforcement advisory from authorities
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Regulators expand compliance enforcement across digital asset sector
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Platforms operating without registration face access restrictions and penalties
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Securities watchdog strengthens oversight of unregistered cryptocurrency service providers
Philippine financial regulators have escalated enforcement measures against numerous cryptocurrency platforms conducting operations without obtaining necessary licenses. Authorities identified seven distinct entities providing investment-related digital asset services while lacking mandatory regulatory approvals. This action represents part of broader efforts to eliminate unauthorized cryptocurrency activities throughout the nation.
Regulatory Spotlight on dYdX and Aevo Platforms
Financial authorities specifically named [[LINK_START_0]]dYdX[[LINK_END_0]] and Aevo as operators providing unlicensed investment services to local residents. Regulators determined these platforms actively solicit customer deposits while promoting potential financial gains. Officials confirmed neither organization possesses valid authorization under current cryptocurrency regulations.
Authorities stressed that all digital asset operators must obtain full compliance with crypto-asset service provider regulations before accepting Philippine customers. Registration protocols mandate significant capital reserves alongside rigorous operational compliance measures. Regulators made clear that non-compliant platforms will face immediate enforcement measures.
The securities commission noted that individuals promoting unauthorized platforms may face criminal prosecution under existing statutes. Enforcement provisions authorize substantial monetary fines alongside potential incarceration for regulatory violations. These measures aim to discourage unlicensed marketing activities targeting domestic investors.
gTrade, Pacifica and Orderly Face Compliance Actions
Regulators additionally identified gTrade, Pacifica, and Orderly for operating without proper authorization. Officials concluded these entities provide cryptocurrency services while lacking essential regulatory permits. Consequently, authorities continue broadening enforcement activities across numerous platform operators.
The commission has transitioned from issuing advisory warnings toward implementing direct platform restrictions. Regulators recently ordered internet service providers to block access to non-compliant cryptocurrency exchanges. This represents heightened regulatory pressure on international operators serving Philippine markets.
Officials emphasized that unlicensed platforms create substantial financial and security vulnerabilities for users. Regulatory compliance mechanisms ensure proper transparency and institutional accountability across digital asset operations. Authorities remain committed to establishing comprehensive regulatory frameworks for the cryptocurrency industry.
Deriv and Ostium Join Growing Enforcement Roster
The latest regulatory advisory incorporates Deriv and Ostium among flagged entities. Authorities determined both platforms conduct business without satisfying registration or compliance requirements. This reinforces the commission’s ongoing opposition to unauthorized cryptocurrency services.
Previous enforcement campaigns have targeted prominent international exchanges operating within Philippine jurisdiction. Authorities implemented access restrictions against Binance following expired compliance deadlines. Additional platforms including Coinbase and Gemini faced similar blocking measures during late 2025.
Despite aggressive enforcement activities, regulators continue encouraging properly licensed cryptocurrency developments. Officials acknowledged that authorized firms have successfully launched services meeting domestic legal requirements. Authorities maintain explicit differentiation between licensed operators and unregistered cryptocurrency platforms.
