PANews reported on August 27th that, according to Bit Pinas, the Securities and Exchange Commission of the Philippines (SEC PH) has named five cryptocurrency platforms—Blofin, CoinW, DigiFinex, LBank, and Pionex—for providing crypto-related services to Filipinos without proper registration or licensing under the country's new regulatory framework. According to the commission, these platforms allowed Filipino users to register using Philippine mobile phone numbers and accepted payments in pesos. The SEC PH also stated that none of the five entities registered as Crypto Asset Service Providers (CASPs) as required by SEC Memorandums No. 4 and No. 5, Series of 2025.