Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse – Regulation Bitcoin News

The Philippine Securities and Exchange Commission (SEC) has suggested traders in opposition to transacting with unlicensed cryptocurrency exchanges. The warning adopted the collapse of crypto trade FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the regulator burdened. Philippine SEC Warns About Unregulated Crypto Exchanges The Philippine Securities and Exchange Commission (SEC) issued an advisory Friday warning the general public in opposition to transacting with unregistered cryptocurrency exchanges. The regulator wrote: SEC strongly warns and advises the general public in opposition to transacting with unregistered and unlicensed cryptocurrency exchanges