TELECOM | PLDT, Smart block 10 unregistered crypto exchanges
The move followed an order from the National Telecommunications Commission after the SEC issued an advisory earlier this month.
PLDT Inc. and its wireless unit Smart Communications have blocked access to 10 cryptocurrency trading platforms flagged by the Securities and Exchange Commission (SEC) for operating without the required licenses.
The move followed an order from the National Telecommunications Commission after the SEC issued an advisory earlier this month warning the public against investing in OKX, Bybit, Mexc, Kucoin, Bitget, Phemex, Coinex, Bitmart, Poloniex, and Kraken. The regulator cited violations of SEC Memorandum Circular Nos. 4 and 5, Series of 2025, which set rules for crypto-asset service providers.
“These platforms are unregistered and pose significant risks, including total loss of funds, no legal recourse, and exposure to fraud, market manipulation, and identity theft,” the SEC said, adding that unregulated exchanges could be used for money laundering and terrorist financing.
PLDT and Smart said the blocked websites are now inaccessible on their networks. “We work closely with government regulators to protect Filipinos from potential threats,” said Roby Alampay, PLDT and Smart public engagement group head.
The telco group said it continues to strengthen its cybersecurity measures, noting that its Cyber Security Operations Group prevented more than 100 billion attempts to access malicious domains in the first half of the year.
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