Operations Despite Lack of Licensed
Philippine financial regulators have escalated their enforcement measures against several cryptocurrency platforms that do not have licenses despite conducting operations. Authorities have identified seven entities providing digital asset services related to investments without mandatory regulatory approvals.
This move is seen as part of broader efforts to eliminate unauthorized cryptocurrency activities in the country.
Regulatory Spotlight on dYdX and Aevo Platforms
Financial regulators singled out dYdX and Aevo as operators providing unlicensed investment services to Filipino locals. Authorities have determined that these platforms actively solicit customer deposits while promising potential financial gains. Officials have confirmed that neither organization have valid authorization under current cryptocurrency regulations.
