Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse

The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the regulator stressed. Philippine SEC Warns About Unregulated Crypto Exchanges The Philippine Securities and Exchange Commission (SEC) issued an advisory Friday warning the public against transacting with unregistered cryptocurrency exchanges. The regulator wrote: SEC strongly warns and advises the public against transacting with unregistered and unlicensed cryptocurrency exchanges reachable and deemed operating in the Philippines. The