The Securities and Exchange Commission (SEC) has reiterated its advice to the public against transacting with unregistered and unlicensed cryptocurrency exchanges that are reachable and deemed operating in the country. Know more:
THE Securities and Exchange Commission has reiterated its advice to the public against transacting with unregistered and unlicensed cryptocurrency exchanges that are reachable and deemed operating in the country.
“A number of unregistered cryptocurrency exchanges are deliberately targeting Filipino investors and borrowers through online advertisements in social media and unlawfully allowing Filipinos to access their online platforms and permit the enrollment, creation or registration of client accounts through online means,” the SEC said.
Unregistered cryptocurrency exchanges include and offer facilities or platforms for the purpose of, but are not limited to the following: “Always remember that in case of doubt as to whether or not it is safe to transact with an online platform or entity, always check with SEC if the corporation or entity is registered or not,” the agency said.
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