Philippine SEC Restricts Access to Offshore Crypto Exchanges

The Securities and Exchange Commission (SEC) of the Philippines has implemented a significant measure to curtail access to foreign cryptocurrency trading platforms. This move is aimed at safeguarding Filipino investors from potential risks associated with unregulated platforms. The SEC clarified that this action aligns with its ongoing efforts to ensure the integrity of the country’s financial market. IP addresses of unregistered platforms will be blocked, making them more difficult for Filipino users to access. This step is part of a broader campaign to promote regulatory compliance within the burgeoning cryptocurrency sector in the Philippines. Furthermore, the SEC cautions investors against dealing with entities offering unrealistically high returns, as this is often a sign of potential scams. The agency seeks to guide investors towards licensed and regulated platforms, ensuring a greater level of protection and transparency.