Philippine SEC Blocks Major Offshore Crypto Exchanges Access

On August 6, 2025, the Philippine SEC ordered blocking access to ten international crypto exchanges, citing non-compliance with new licensing rules.

This action impacts investor access and risks within the Philippines, signaling increased regulatory scrutiny on international cryptocurrency platforms.

SEC Targets 10 Crypto Exchanges in Enforcement Move

The Philippine SEC directed ISPs to block access to exchanges such as OKX, MEXC, Bybit, and others, citing violation of local laws. According to the SEC, these platforms were offering services without the required registration or minimum capital.

This regulatory measure may deter other cryptocurrency providers from operating within the Philippines unlawfully, potentially encouraging compliance with local laws. Immediate reactions suggest users might seek decentralized or legally compliant alternatives.

Emilio B. Aquino, Chairman, Philippine SEC: “Their actions are unauthorized and expose Filipino investors to significant risk, including total loss of funds, no legal recourse, exposure to fraud, market manipulation, and identity theft,” referencing the SEC’s intent to protect investors from related risks.

Regional Crackdown: Philippines Follows ASEAN Trend in Crypto

Did you know? The Philippines previously enacted similar measures against Binance, highlighting a regional trend that includes comparable regulatory actions in Thailand and Indonesia.

Bitcoin’s current market price is $113,902.05, with a market cap of formatNumber(2266957267202.93, 2.27 trillion) and 24-hour trading volume of formatNumber(57231198293.31, 2). Price changes include a decrease of 3.18% over 7 days. Data from CoinMarketCap.

Coincu research suggests heightened regulatory actions could drive significant changes, pushing investors toward regulated platforms. Analyzing past trends, such movements typically result in temporary liquidation risks and market fluctuation.