PANews reported on August 5th that, according to Bitcoin.com, the Philippine Securities and Exchange Commission (SEC) issued a notice warning investors to be wary of unregistered offshore cryptocurrency platforms. Several digital asset service providers are operating in the country without authorization and providing trading services in violation of newly implemented compliance requirements. The notice states that 10 exchanges are currently violating domestic securities regulations: OKX, Bybit, Mexc, Kucoin, Bitget, Phemex, Coinex, Bitmart, Poloniex, and Kraken. Despite not being licensed by the SEC under Memorandum Circulars No. 4 and 5, which took effect in July 2025, these exchanges continue to actively promote services or allow user access within the country. Furthermore, the regulator stated that other cryptocurrency exchanges may also be in violation, emphasizing that this list is not exhaustive and that platforms that offer similar services to the Filipino public without registration or approval are in violation of the country's securities laws. Following the earlier geo-blocking of Binance, the Philippine SEC revealed that several other platforms remain accessible and are conducting unauthorized marketing activities targeting Filipino residents.