Philippines warns against investing in unapproved crypto exchanges

The Philippine Securities and Exchange Commission (SEC) has issued an investment warning against six unapproved cryptocurrency exchanges, including dYdX, Cointelegraph reported. The list also includes Aevo and Orderly. According to Philippine authorities, the exchanges are offering products to the general public with promises of profits or interest payments. The commission also warned that individual investors who promote the exchanges could face criminal charges for violating securities laws.