😐 The Philippine regulator has deemed the activities of OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart, and Poloniex illegal for operating without a license.

ℹ️ The exchanges continue to operate with Filipino users after the new SEC requirements came into effect on Tuesday, but they currently lack the necessary permits. This is part of a regional trend of tightening regulation — similar measures are being taken by Thailand and Indonesia against offshore crypto platforms.

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