The Philippines SEC issues an investor warning, reminding the public not to invest in unregistered cryptocurrency trading platforms.

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Mars Finance reports that the Philippines Securities and Exchange Commission (SEC) has issued an investor warning, reminding the public not to invest in seven cryptocurrency trading platforms including dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium. The SEC stated that the platforms mentioned above are not registered with the commission and have not obtained the necessary authorization under the Crypto Asset Service Provider (CASP) framework. Additionally, the SEC warned that individuals promoting these platforms within the Philippines could face criminal charges, with fines of up to 5,000,000 Philippine pesos (approximately $89,000) or a maximum of 21 years in prison.

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