The Philippines SEC names LBank and 4 other cryptocurrency exchanges for providing services to Filipino users without registration

ChainCatcher news, according to Bit Pinas, the Philippine Securities and Exchange Commission (SEC PH) has named five cryptocurrency platforms: Blofin, CoinW, DigiFinex, LBank, and Pionex, stating that they are providing crypto-related services to Filipinos without proper registration or licensing under the country's new regulatory framework.

According to the commission, these platforms allow Philippine users to register using Philippine mobile numbers and accept peso payments.

SEC PH also stated that these five entities have not registered as cryptocurrency asset service providers (CASP) in accordance with SEC Memorandum Circulars No. 4 and No. 5 of 2025.