The Securities and Exchange Commission (SEC) has flagged five unregistered cryptocurrency platforms for operating without proper authorization.
In line with Memorandum Circular No. 19, Series of 2019, all lending and financial firms are required to disclose their respective online lending platforms (OLPs). The SEC warned investors against engaging with unregistered cryptocurrency platforms, stressing that doing so exposes them to high risks and potential financial losses.
The five flagged platforms are BloFin, CoinW, DigiFinex, LBank, and Pionex.
Earlier, on August 15, 2025, the SEC also issued a cease-and-desist order against several money lending companies, directing them to immediately stop any lending-related transactions. These firms include:
- Cash Konek
- PesoSuki
- Yescom Lending – Quick Cash Loan
- Peso101 – Fast Loans PH
- Peso Cow – Mabilis Pera Loan
- Swiftloan: Loan App Philippines
- Pera Loan: Fast Cash PH
The SEC continues to remind the public to verify the legitimacy of financial and cryptocurrency platforms before making any investment.
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