Online reports, Cointelegraph reported that the Philippine Securities and Exchange Commission (SEC) issued an advisory report naming 10 major cryptocurrency exchanges, including OKX, Bybit, KuCoin, Kraken, etc., because they operate without authorization under the country's new cryptocurrency regulations. "These platforms are not licensed, registered or authorized by the Securities and Exchange Commission of the Philippines and cannot operate in the Philippines or solicit investment from the public," the alert said. The alert added: "Their actions were unauthorized and exposed to significant risks to Philippine investors."