The post dYdX and Crypto Platforms in Hot Water as Philippine SEC Issues Major Investor Alert appeared on BitcoinEthereumNews.com. Home » Crypto News Crypto platformThe post dYdX and Crypto Platforms in Hot Water as Philippine SEC Issues Major Investor Alert appeared on BitcoinEthereumNews.com. Home » Crypto News Crypto platform

dYdX and Crypto Platforms in Hot Water as Philippine SEC Issues Major Investor Alert

For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

Home » Crypto News


Crypto platform dYdX declared unregistered by the Philippine SEC, with strict warning against investment solicitation and potential criminal liability for promoters.

‘;
}
function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);
const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);
scriptEl.src = scriptURL.toString();
// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}
function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}
// Initial Load for Desktop
if (window.innerWidth > 768) {
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}
// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}
// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’Listen‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();


Summarize with AI


Summarize with AI

The Philippine Securities and Exchange Commission (SEC) has issued a public advisory warning against engaging with several crypto trading platforms that are not authorized to operate in the country.

Among the flagged entities was the widely used decentralized trading platform dYdX. The SEC said it received reports indicating that these platforms have been offering investment opportunities and collecting funds from users in exchange for promises of returns, profits, or interest, activities that fall under regulatory oversight.

Without proper registration, investors who use these platforms may face increased risks, including exposure to fraud and a lack of legal recourse in case of disputes.

Crypto Crackdown

In its notice, the regulator stated that dYdX is not registered with the commission and does not hold the required license to solicit or accept investments from the public.

The SEC reiterated that under its Crypto-Asset Service Provider (CASP) Rules, all entities offering crypto-related services to investors in the country must first register with the Commission and secure the appropriate licenses. Anyone acting as a salesman, broker, dealer, agent, promoter, recruiter, influencer, endorser, or enabler of dYdX in the Philippines, online or otherwise, may face criminal liability under Section 28 of the Securities Regulation Code (SRC).

Violators may be penalized under Section 73 of the SRC with a fine of up to ₱5,000,000, imprisonment of up to 21 years, or both, depending on the court’s ruling.

Other Unlicensed Firms Flagged

Besides dYdX, the regulators also named Aevo, GTrade (also known as Gains Trade), Pacifica, Orderly, Deriv, and Ostium as unregistered platforms that are not authorized to offer or solicit crypto-asset services or investment opportunities to Filipinos.

The SEC urged the public to verify a company’s registration status and to report any suspicious investment activities to its Enforcement and Investor Protection Department.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source: https://cryptopotato.com/dydx-and-crypto-platforms-in-hot-water-as-philippine-sec-issues-major-investor-alert/

Market Opportunity
Helium Mobile Logo
Helium Mobile Price(MOBILE)
$0.000136
$0.000136$0.000136
-2.71%
USD
Helium Mobile (MOBILE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

USD1 Genesis: 0 Fees + 12% APR

USD1 Genesis: 0 Fees + 12% APRUSD1 Genesis: 0 Fees + 12% APR

New users: stake for up to 600% APR. Limited time!