Philippine SEC Warns Platforms Like dYdX Are Unlicensed, Promoters May Face Criminal Liability

Odaily News The Philippine Securities and Exchange Commission (SEC) has issued an investor alert stating that platforms such as dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium are not registered locally and have not obtained licenses related to crypto asset service providers.

The SEC stated that individuals promoting the aforementioned platforms within the Philippines may face criminal liability, with penalties of up to 5 million Philippine Pesos in fines or a maximum of 21 years of imprisonment.