SEC strongly cautioned the public not to interact with unregistered crypto exchanges.
Philippine law mandates company registration before doing business in the country.
On Friday, the Securities and Exchange Commission (SEC) of the Philippines issued a notice against the use of unlicensed cryptocurrency exchanges.
SEC strongly cautioned and recommended the public not interact with unregistered and unregulated cryptocurrency exchanges, That are accessible and presumed to be functioning in the Philippines, according to a statement released by the agency.
High Risk and Sometimes Fraudulent
Hundreds of thousands, if not millions, of unsecured creditors, were left with little to no recourse. In retrieving their money after the collapse of the crypto exchange FTX, prompting the Philippine SEC to issue the advisory. The SEC went on to remind investors that Philippine law mandates company registration before doing business in the country.
The advisory detailed:
“SEC is the registrar and over
We współpracy z: https://thenewscrypto.com/philippines-sec-cautions-against-unregistered-crypto-exchanges/
