PLDT Inc. and its wireless arm, Smart Communications, have blocked access to 10 cryptocurrency exchanges identified by the Securities and Exchange Commission (SEC) as operating without the required licenses.
Cryptocurrencies are digital assets used mainly for online transactions and are not backed by any government or central bank. They are traded through online platforms called exchanges, which work similarly to stock markets.
“We work closely with government regulators to protect Filipinos from potential threats,” said Roby Alampay, FVP and group head of Public Engagement at PLDT and Smart. “Upon receipt of the order from the National Telecommunications Commission, we restricted access to the identified websites. These web addresses are no longer accessible on our network.”
The SEC’s advisory, issued earlier this month, warned the public against investing in OKX, Bybit, Mexc, Kucoin, Bitget, Phemex, Coinex, Bitmart, Poloniex, and Kraken. The regulator said these platforms failed to register under the SEC’s new rules and guidelines for crypto asset service providers.
The agency warned that using unregistered platforms could lead to total loss of funds, lack of legal recourse, and risks of fraud, market manipulation, and identity theft. It also noted they could be exploited for money laundering and terrorist financing.
PLDT and Smart said they continue to strengthen cybersecurity measures. In the first half of 2025, their Cyber Security Operations Group blocked over 100 billion attempts to access malicious domains.
[…] PLDT, Smart block access to 10 unregistered crypto exchanges […]