Philippines urges citizens not to use the services of unregistered crypto exchanges

The Philippine authorities appealed to investors not to use the services of cryptocurrency exchanges that do not have a license.
The Securities and Exchange Commission (SEC) stressed that the state will not be able to protect the users of such trading platforms, because their activity is not regulated by the supervisory authorities.
Any company that serves citizens and businesses in the Philippines must register with a special registry and comply with anti-money laundering laws. The SEC reminded about the risks of investing in digital currencies.

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