Philippines SEC Targets Major Crypto Exchanges in Regulatory Crackdown
The Philippines Securities and Exchange Commission has named ten major cryptocurrency exchanges for operating without proper licenses, marking the country’s most significant enforcement action since blocking Binance last year.
The regulator issued a public advisory on August 1, 2025, targeting platforms including OKX, Bybit, KuCoin, and Kraken for violating new rules that took effect July 5. These exchanges continue serving Filipino users despite lacking required authorization under the country’s Crypto Asset Service Provider (CASP) framework.
The enforcement follows a clear pattern established when Philippines authorities successfully blocked Binance in 2024. That action removed the world’s largest crypto exchange from the…
