Smart Communications, Inc. has blocked access to ten unregistered cryptocurrency exchanges in compliance with an order from the National Telecommunications Commission (NTC), following a warning from the Securities and Exchange Commission (SEC) about the platforms’ lack of proper license.
The SEC had earlier flagged exchanges including OKX, Bybit, Kucoin, Kraken, and others for operating without registration under the 2025 SEC CASP Rules and Guidelines. The Commission warned these platforms pose risks such as fraud, identity theft, and exposure to money laundering and terrorist financing.
Roby Alampay, first vice president and group head of public engagement at PLDT and Smart, said the company acted promptly to restrict access. “We work closely with government regulators to protect Filipinos from potential threats,” Alampay said.
The move underscores a tightening corporate stance on compliance with local financial regulations and highlights the broader commercial implications for digital platforms operating without government approval.
PLDT and Smart emphasized their commitment to cybersecurity, citing efforts to block over 100 billion malicious attempts in the first half of 2025. The telecom group supports a collaborative, whole-of-nation approach to digital safety.
