Philippine SEC Warn Investors Against Using Unauthorized Crypto Exchanges In the midst of the collapse of FTX

Following the collapse of FTX, the Philippine government has warned investors in the country against the use of unlicensed crypto exchanges.

Philippine Securities and Exchange Commission got outAdvice to the public about using an exchange cryptocurrency unregistered Within the warnings, FTX is not mentioned directly, but it does consider “The collapse of the exchange cryptocurrency between large countries recently.”

The government agency stressed that any entity wishing to conduct business within the country must register with the Philippine SEC.

Currently, many exchanges are available to Filipino investors. through online advertising and through social media Which government agencies also emphasize that those exchanges are “Breaking the law” for Filipinos to access their platforms and sign up for online accounts. and indicate that these trading websites “Offers different products and variations that are high risk and sometimes fraudulent.”

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