Following a directive from the SEC, Smart Communications Inc. has blocked access to 10 unregistered cryptocurrency exchanges, including OKX and Bybit, to protect Filipino investors from potential risks.
Smart Communications Inc. said Monday it blocked access to 10 unregistered cryptocurrency exchanges after the Securities and Exchange Commission (SEC) flagged the platforms for operating without the necessary licenses.
“We work closely with government regulators to protect Filipinos from potential threats,” Roby Alampay, first vice president and group head of public engagement at PLDT and Smart, said in a statement.
“Upon receipt of the order from the National Telecommunications Commission (NTC), we restricted access to the identified websites. These web addresses are no longer accessible on our network,” Alampay said.
The SEC earlier released an advisory warning the public against investing in the exchanges, which included OKX, Bybit, Mexc, Kucoin, Bitget, Phemex, Coinex, Bitmart, Poloniex and Kraken.
The commission said the entities failed to register with the regulator as required under SEC Memorandum Circular No. 4, Series of 2025 (SEC CASP Rules), and SEC Memorandum Circular No. 5, Series of 2025 (SEC CASP Guidelines).
The advisory warned that the unregistered platforms “may be exploited for money laundering and terrorist financing” and exposed investors to “significant risk, including total loss of funds, no legal recourse and exposure to fraud, market manipulation, and identity theft.”
PLDT and Smart said in the first half of the year, their Cyber Security Operations Group had prevented more than 100 billion attempts to open malicious domains.
