The Philippines Security and Exchange Commission has issued an advisory against online trading platform eToro, accusing it of offering unregistered securities in the country.
The Philippines regulator had earlier taken action against Binance and blockaded the exchange’s operations in the country.
Philippines SEC Issues Advisory
The regulator issued the advisory in March and was publicly posted on the 4th of April, informing the public at large that eToro was not authorized to sell or offer securities to investors in the Philippines. The regulatory body stated that while eToro is a registered broker/dealer in different jurisdictions, certain requirements must be met before any platform can offer securities and investment products in the Philippines. eToro is one of the most popular trading platforms in the world, with over 30 million registered users in 140 countries. The platform is extremely popular in the UK, Europe, the US, and Australia.
According to the Phil
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