Philippines SEC Cracks down on Unregistered Offshore Crypto Exchanges

In August 2025, the Philippines—SEC issued a public advisory targeting ten major offshore crypto exchanges—OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart, and Poloniex—for operating without licenses under the new Crypto Asset Service Provider (CASP) rules, effective July 2025. These rules, outlined in SEC Memorandum Circulars No. 4 and No. 5, require all crypto

Read More