The SEC has named 28 crypto exchanges and trading platforms for serving Filipinos without its registration, including Bybit, MEXC, OKX and Binance. None of them is on the BSP list of 8 licensed providers.
Platforms named, by year of advisory: 2026 10, 2025 15, 2024 1, 2023 2
SEC advisories posted to 28 September 2026; BSP list of VASPs, dated 15 July 2026.
Holding crypto on one of these? Next: move it to a BSP-licensed provider and cash out; steps and fees per provider.
| Platform | SEC advisory |
|---|---|
| HNZLLQ | 15 May 2026 |
| Aevo | 16 April 2026 |
| Deriv | 16 April 2026 |
| dYdX | 16 April 2026 |
| gTrade | 16 April 2026 |
| Orderly | 16 April 2026 |
| Ostium | 16 April 2026 |
| Pacifica | 16 April 2026 |
| Vest | 16 April 2026 |
| HTX (Huobi) | 10 April 2026 |
| BloFinblofin.com | 22 August 2025 |
| CoinWcoinw.com | 22 August 2025 |
| DigiFinexdigifinex.com | 22 August 2025 |
| LBanklbank.com | 22 August 2025 |
| Pionexpionex.com | 22 August 2025 |
| Bitgetbitget.com | 4 August 2025 |
| BitMartbitmart.com | 4 August 2025 |
| Bybitbybit.com | 4 August 2025 |
| CoinExcoinex.com | 4 August 2025 |
| Krakenkraken.com | 4 August 2025 |
| KuCoinkucoin.com | 4 August 2025 |
| MEXCmexc.com | 4 August 2025 |
| OKXokx.com | 4 August 2025 |
| Phemexphemex.com | 4 August 2025 |
| Poloniexpoloniex.com | 4 August 2025 |
| eToro | 4 April 2024 |
| Binance | 28 November 2023 |
| Gemini | 18 May 2023 |
The SEC also names it as HNZLLQ EXCHANGE.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
HNZLLQ claims itself as a digital asset trading and cryptocurrency exchange platform offering crypto trading services, derivatives or contract trading, and other blockchain-related financial services.SEC advisory, 15 May 2026
The SEC also names it as AEVO TRADING PLATFORM.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
AEVO describes itself as a decentralized trading platform that provides access to derivatives trading, including perpetual contracts and options on digital assets, through blockchain-based infrastructure.SEC advisory, 16 April 2026
The SEC also names it as DERIV TRADING PLATFORM.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
DERIV describes itself as an online trading service provider offering access to derivatives trading and other financial instruments, including crypto-assets, through its digital platforms.SEC advisory, 16 April 2026
The SEC also names it as DYDX TRADING PLATFORM, DYDX CHAIN.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
DYDX describes itself as a decentralized trading platform that facilitates derivatives trading, particularly perpetual contracts on digital assets, through blockchain-based infrastructure.SEC advisory, 16 April 2026
The SEC also names it as GTRADE TRADING PLATFORM, GAINS TRADE.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
GTRADE describes itself as a decentralized trading platform that facilitates leveraged trading of crypto-assets and other financial instruments through blockchain-based protocols.SEC advisory, 16 April 2026
The SEC also names it as ORDERLY TRADING PLATFORM, ORDERLY NETWORK.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
ORDERLY describes itself as a decentralized trading infrastructure that facilitates trading of crypto-assets and derivative instruments, utilizing a shared order book system and liquidity aggregation mechanisms.SEC advisory, 16 April 2026
The SEC also names it as OSTIUM TRADING PLATFORM.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
OSTIUM describes itself as an online trading platform that enables users to trade multiple asset classes, including cryptocurrencies, forex, stocks, indices, and commodities, directly from their digital wallets.SEC advisory, 16 April 2026
The SEC also names it as PACIFICA TRADING PLATFORM.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
PACIFICA describes itself as an online trading platform that provides access to crypto-asset trading and derivative instruments, enhanced by automation and advanced trading tools.SEC advisory, 16 April 2026
The SEC also names it as VEST TRADING PLATFORM, VEST EXCHANGE, VEST MARKET.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
VEST describes itself as an online trading platform offering funded trading programs, where users may participate in trading activities and receive a share of profits, subject to platform conditions.SEC advisory, 16 April 2026
The SEC also names it as HTX, HTX CRYPTOCURRENCY EXCHANGE, HTX EXCHANGE, HUOBI GLOBAL LIMITED, HUOBI GLOBAL S.A., HUOBI GLOBAL, HUOBI.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| Registered with the SEC as a crypto-asset service provider | No, per the SEC |
| On the BSP list of licensed VASPs | No |
HTX describes itself as a digital asset exchange platform offering digital asset trading, cryptocurrency exchange services, derivatives trading, wallet services, and blockchain-related products.SEC advisory, 10 April 2026
| Website named by the SEC | blofin.com |
|---|---|
| Accessible in the Philippines | Yes |
| Sign-up with a +63 number | Yes |
| Peso P2P payments | Not marked |
| Credit or debit card payments | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 22 August 2025, one of 5 platforms in its table.
| Website named by the SEC | coinw.com |
|---|---|
| Accessible in the Philippines | Yes |
| Sign-up with a +63 number | Yes |
| Peso P2P payments | Not marked |
| Credit or debit card payments | Not marked |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 22 August 2025, one of 5 platforms in its table.
| Website named by the SEC | digifinex.com |
|---|---|
| Accessible in the Philippines | Yes |
| Sign-up with a +63 number | Yes |
| Peso P2P payments | Not marked |
| Credit or debit card payments | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 22 August 2025, one of 5 platforms in its table.
| Website named by the SEC | lbank.com |
|---|---|
| Accessible in the Philippines | Yes |
| Sign-up with a +63 number | Yes |
| Peso P2P payments | Yes |
| Credit or debit card payments | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 22 August 2025, one of 5 platforms in its table.
| Website named by the SEC | pionex.com |
|---|---|
| Accessible in the Philippines | Yes |
| Sign-up with a +63 number | Yes |
| Peso P2P payments | Not marked |
| Credit or debit card payments | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 22 August 2025, one of 5 platforms in its table.
| Website named by the SEC | bitget.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Website named by the SEC | bitmart.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Not marked |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Website named by the SEC | coinex.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Website named by the SEC | kraken.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Website named by the SEC | kucoin.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Website named by the SEC | phemex.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Yes |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Website named by the SEC | poloniex.com |
|---|---|
| Accessible in the Philippines | Yes |
| Active marketing in the Philippines | Not marked |
| On the BSP list of licensed VASPs | No |
Read the SEC advisory of 4 August 2025, one of 10 platforms in its table.
| Registered as a Philippine corporation | No, per the SEC |
|---|---|
| On the BSP list of licensed VASPs | No |
ETORO describes itself as an investing and trading platform which aims to make trading accessible to anyone, anywhere and reduce the dependency on traditional financial institutions.SEC advisory, 4 April 2024
The SEC also names it as GEMINI TRUST COMPANY, LLC.
| On the BSP list of licensed VASPs | No |
|---|
GEMINI TRUST COMPANY, LLC, through its website GEMINI.COM has launched its product GEMINI DERIVATIVES and is openly offering this product that involves offering of derivatives which is a form of “securities”.SEC advisory, 18 May 2023
This page covers the SEC's public advisories on crypto platforms. To report one, email epd@sec.gov.ph; to recover money already lost, a lawyer; for a licensed place to trade, the BSP list on the licensed exchanges page.
An SEC advisory is a public warning. It tells you the platform has no registration or licence from the SEC to offer crypto services or take investments in the Philippines. Since 5 July 2025 the SEC CASP Rules require every crypto-asset service provider serving Filipinos, local or foreign, to register first. Browse the SEC advisories page for new ones.
The SEC named OKX, Bybit, MEXC, KuCoin, Bitget, Phemex, CoinEx, BitMart, Poloniex and Kraken as platforms that are accessible in the Philippines without SEC registration or a CASP licence, and said the list is not exhaustive. It said its enforcement may include cease and desist orders and requests to block websites and apps. SEC investor alert dated 1 August 2025, posted 4 August 2025
For a licensed place to buy, sell or cash out crypto, use a provider on the BSP VASP list. Gains on any platform, licensed or not, are income: see how crypto is taxed in the Philippines.
The SEC has also warned against 51 investment schemes built around crypto trading, coins, tokens or mining. Each row links to the SEC's own advisory.
| Named in the advisory | Date |
|---|---|
| Seagull Alliance / Riscoin / League of Seagull | 12 February 2026 |
| League of Seagull Ltd. / Riscoin | 12 February 2026 |
| Tagalogix AI | 11 February 2026 |
| BG Wealth Sharing Ltd. (DSJ Exchange) | 28 January 2026 |
| KBS / KBSEX Exchange / SDX Exchange | 12 January 2026 |
| Glass Coin | 6 August 2024 |
| Skyline Crypto and Dry Goods Trading | 19 June 2024 |
| CliqueTrade | 21 May 2024 |
| Coinmate Plus / CMP Crypto Trading | 24 April 2024 |
| Trade 13.0 Serax / Trade 24 Evista | 22 April 2024 |
| SparkFX Bitcore | 2 April 2024 |
| Virto / Virtual Crypto Trading Venture | 28 February 2024 |
| Pecado / Ashtree Block Ventures | 20 December 2023 |
| Solace PH | 15 December 2023 |
| Crypace Limited | 6 December 2023 |
| Gainz Philippines | 6 December 2023 |
| Hedge Bit Trading Inc. | 9 November 2023 |
| Centuros Finance Group II | 20 September 2023 |
| Crypto Hub Finance | 30 May 2023 |
| Platinum Coin | 10 February 2023 |
| Bitprime | 26 January 2023 |
| Lele Gold Farm / Lele Gold Coin | 13 January 2023 |
| CSTMine.com | 5 January 2023 |
| Bit-Cryptorising / BCR Rising Trade Inc. | 5 January 2023 |
| Tether-Pay / Tether Pay Ltd. | 27 December 2022 |
| Crypto Marketers / Crypto Marketers Worldwide | 14 November 2022 |
| Cryptogix | 14 November 2022 |
| SOS Venture | 27 January 2022 |
| CryptoPayz | 13 January 2022 |
| CryptoStakers / Crypto-Stakers.com | 6 January 2022 |
| Crypto Asset | 14 December 2021 |
| Pancake King Token | 12 October 2021 |
| BCPay Financial Technology, Inc. | 5 October 2021 |
| Cryptoblast Inc. / Cryptoblast Philippines Inc. | 7 September 2021 |
| XUM Token / XUMCoin / XUMEX | 21 June 2021 |
| Xian Coin (XNC) | 2 June 2021 |
| 247 CryptoTrading FX / 247 CryptoTrade Online | 15 April 2021 |
| Sharelink Ads and Crypto Trading | 18 November 2020 |
| Bitcoin Digital | 27 October 2020 |
| Bitcoin Revolution | 16 June 2020 |
| Centric (Centric Rise / Centric Cash) | 9 June 2020 |
| Crypto Invest With Us (CIWU) | 6 May 2020 |
| CryptoPeso | 7 April 2020 |
| Bitcoin Revolution | 31 March 2020 |
| Bitrade / Bitrade Bitcoin Trading Ltd. | 31 March 2020 |
| PayAsian Solutions (PAYA Coins) | 14 November 2019 |
| AirBit Club / GO88 Ventures, Inc. | 4 September 2018 |
| Crypto Expert, Inc. (CryptoExpert Trading) | 1 August 2018 |
| PureWealth EBC Corporation (PurePound) | 1 August 2018 |
| Paysbook E-Commerce System (Indigen Coins) | 1 August 2018 |
| Coin-Option.com | 22 May 2018 |
28 crypto platforms appear by name in SEC advisories, including Bybit, MEXC, OKX, Binance, HTX (Huobi), Bitget, Kraken, KuCoin. The newest advisory on this list is dated 15 May 2026.
KuCoin is not on the BSP list of licensed VASPs, and the SEC named it in its 4 August 2025 advisory as accessible and actively marketed in the Philippines without SEC registration or a licence.
Bitget is not on the BSP list of licensed VASPs. The SEC named it in the same 4 August 2025 advisory as OKX, Bybit and MEXC, as a platform with no SEC licence, registration or authorization to operate here.
No. The SEC says its list is not exhaustive, and only the 8 providers on the BSP list hold a VASP licence.
The SEC Enforcement and Investor Protection Department issues the advisories under the Securities Regulation Code (RA 8799) and, for crypto platforms since 5 July 2025, the SEC CASP Rules (SEC MC No. 4, s. 2025). Only the BSP licenses crypto exchanges as virtual asset service providers.
This page covers the SEC's public advisories on crypto platforms. To report one, email epd@sec.gov.ph; to recover money already lost, a lawyer; for a licensed place to trade, the BSP list on the licensed exchanges page.
