Philippines SEC warns on dYdX, six other unauthorized crypto platforms
Burns Brief
Promoters of flagged platforms may face fines of up to 5 million Philippine pesos ($89,000) or up to 21 years in prison under Philippine securities law Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
Promoters of flagged platforms may face fines of up to 5 million Philippine pesos ($89,000) or up to 21 years in prison under Philippine securities law.
Key Takeaways
- Promoters of flagged platforms may face fines of up to 5 million Philippine pesos ($89,000) or up to 21 years in prison under Philippine securities law