Philippine SEC flags dYdX and six other crypto platforms as unregistered, urges investors to stay away

The Philippine Securities and Exchange Commission (SEC) has issued an advisory warning the public against investing in seven cryptocurrency trading platforms: dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium. According to the SEC, the platforms are not registered with the Commission and have not secured the required authorization under the country's Crypto Asset Service Provider (CASP) framework. The regulator also cautioned that individuals marketing or promoting these platforms in the Philippines could face criminal liability, with penalties of up to PHP 5,000,000 (about $89,000) in fines and up to 21 years' imprisonment.