SEC Flags 10 Offshore Crypto Exchanges — Pinoy Traders React
August 2025 | 8ConNews Bulletin
The Securities and Exchange Commission (SEC) has issued a warning against 10 unregistered cryptocurrency trading platforms operating in the Philippines. Among those flagged are popular exchanges like Bitget, Bybit, MEXC, and BingX — all widely used by local crypto enthusiasts for their lower fees and wider selection of tokens.
Full SEC Advisory: bitpinas.com article
Why It Matters
The advisory warns that these platforms are not registered to operate in the country, potentially exposing Filipino users to unregulated risks. The SEC emphasizes consumer protection as its top priority, urging Filipinos to transact only with licensed entities.
However, the move has triggered an uproar online, with many Filipino crypto traders expressing frustration over the limited and more expensive local options, namely GCash, PDAX, and Coins.ph.
Traders Speak Out
Here are some common sentiments from Filipino users:
“Ang mahal ng fees sa Coins at PDAX, tapos ang bagal pa ng processing minsan.”
“Puro restrict, wala namang mas magandang alternative. Parang pinapa-GCash na lang lahat.”
“Why not regulate properly instead of banning outright? We need freedom, not forced choices.”
Many argue that instead of banning access, the SEC should work on creating a clear framework that welcomes global platforms through proper registration, while maintaining transparency and consumer safeguards.
The Bigger Picture
While user concerns are valid — especially with regard to higher fees and limited token choices on local exchanges — it’s also worth noting the SEC’s responsibility to protect retail investors from fraud, scams, or flash liquidations on unregulated platforms.
But here’s the reality: crypto adoption in the Philippines is growing fast, especially among young investors, freelancers, OFWs, and traders seeking alternative income. Restricting access without providing better local solutions could push users to go underground, opening them up to even bigger risks.
8Con Academy’s Take: Educate, Don’t Eliminate
At 8Con Academy, we believe that the key to solving this friction between regulation and innovation lies in education. We don’t offer investment advice, but we empower Filipinos with the knowledge to:
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Understand the risks and mechanics of crypto trading
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Compare platform features, fees, and security
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Know their rights and responsibilities as retail investors
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Navigate regulated and decentralized markets wisely
Let’s Build an Informed Crypto Community
Crypto is here to stay, and so is the need for smart, safe, and sustainable financial tools. Instead of making Filipinos choose between risk and restriction, let’s push for:
✅ Better financial literacy
✅ Transparent and competitive local platforms
✅ A regulatory approach that welcomes innovation
Don’t just trade — trade with clarity, confidence, and community.
Stay tuned at 8ConNews for updates on crypto regulations and market insights affecting Filipino traders.