Philippine SEC Flags dYdX and Others Over Unauthorized Crypto Operations

TLDR

• SEC flags dYdX and others for unauthorized crypto operations in PH

• Philippine SEC expands crackdown on unlicensed crypto platforms

  

• SEC warns against dYdX, Aevo, and others over compliance issues

• Unauthorized crypto platforms face SEC enforcement in Philippines

• SEC intensifies action against unregistered crypto service providers

The Philippine Securities and Exchange Commission has intensified oversight actions against several crypto platforms operating without approval. The SEC identified multiple entities offering investment-related services without proper registration. The SEC reinforced enforcement measures to restrict unauthorized digital asset activities across the country.

dYdX and Aevo Face SEC Scrutiny

The SEC listed dYdX and Aevo among platforms offering unauthorized investment services. The SEC found that both platforms appeared to solicit funds with expectations of profits or returns. The SEC emphasized that neither entity holds valid registration under its crypto framework.

The SEC clarified that firms must comply with its crypto-asset service provider requirements before operating locally. The SEC requires companies to meet capital thresholds and strict operational standards for approval. The SEC warned that failure to comply exposes platforms to enforcement action.

The SEC cautioned that promoters of these platforms could face legal penalties under national laws. The SEC enforces provisions that include fines and possible imprisonment for violations. The SEC aims to deter unauthorized promotions within the local market.

gTrade, Pacifica and Orderly Under Regulatory Action

The SEC also flagged gTrade, Pacifica, and Orderly for similar violations. The SEC determined that these platforms offer services without required licenses or approvals. As a result, the SEC continues to expand its enforcement scope across multiple operators.

The SEC has strengthened its approach by shifting from warnings to direct access restrictions. The SEC previously directed service providers to block non-compliant platforms within the country. The SEC has increased pressure on offshore operators targeting local users.

The SEC reiterated that unauthorized platforms expose users to financial and operational risks. The SEC stressed that compliance ensures transparency and accountability in digital asset services. The SEC continues to prioritize regulatory clarity in the sector.

Deriv and Ostium Added to Expanding Enforcement List

The SEC included Deriv and Ostium in its latest advisory. The SEC found that both platforms operate without meeting registration and compliance standards. The SEC reinforced its stance against unlicensed crypto services.

The SEC has already taken action against major global exchanges in previous enforcement waves. The SEC blocked access to Binance after a compliance deadline expired.The SEC restricted platforms such as Coinbase and Gemini in late 2025.

Besides enforcement actions, the SEC continues to support compliant developments within the sector. The SEC noted that regulated firms have introduced services aligned with local laws and standards.The SEC maintains a clear distinction between authorized operators and unregistered entities.

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