The Philippine Securities and Exchange Commission (SEC) has issued an advisory flagging 10 major international cryptocurrency exchanges for operating domestically without the required license.

Popular exchanges such as OKX, BYBIT, KUCOIN, KRAKEN, MEXC, BITGET, PHEMEX, COINEX, BITMART, POLONIEX and more have created the list.

The August 4, 2025 recommendation from the SEC stated that “these platforms do not have licenses, registrations or permissions from the SEC to operate in the Philippines or to seek investment from the public.”

After the vinance…ph sec flags these sexes and hopes people use local sex (very slow, overpriced)

SRC: https://t.co/ify3rjw39x pic.twitter.com/oyp94a10kn

– @ @ “knife_l3gend) August 5, 2025

Discovered: 20+ Next Cryptocurrency Exploding in 2025

“The list of 10 exchanges is not exhaustive,” says Philippines.

The SEC also argued that the rules are designed to be widely applied to “people who provide, promote or promote access to encrypted trading venues or intermediary services.”

According to the SEC, their ongoing operations work outside of established legal frameworks to protect investors, putting local users at considerable risk. Regulators were warned of impending enforcement actions. The lawsuit includes an order to suspend and abolition, as well as criminal charges.

“Their actions are fraudulent and puts Philippine investors at significant risk. The SEC said total loss of funds, legal measures, exposure to fraud, exposure to fraud, market manipulation and identity theft.

Explore: Top 20 Cryptography to Buy in August 2025

The Philippine SEC bends with code like gym memberships! Will an unregistered exchange get boots? LOL, good luck with that! #RegulationISPRONING #cryptochaos

This news is negative.

– PM cypher (@pm_cypher) August 5, 2025

The Philippine SEC said it will work with Google, Apple and Meta to curb marketing efforts for these fraudulent exchanges. Authorities may also block the app. It could also be given users a limited window to withdraw funds. Therefore, the move has attracted a lot of criticism from crypto investors, with most people assaulting it with X. “The news is negative,” the user claimed.

In a similar move last year, the SEC instructed Google and Apple to remove the Binance app from their local app store. Authorities cited concerns about investor protection.

Explore: 10 Best AI Crypto Coins to Invest in 2025

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This update enables the assistant to perform tasks such as signing in to accounts, reading emails, making bookings, uploading files, and even connecting with services like Gmail, Google Drive, and GitHub.

However, OpenAI stated in a July 25 blog post that using the agent might put personal data at risk, particularly due to “prompt injection”. This type of attack happens when someone adds hidden instructions to content that the chatbot might read, like a blog post, website text, or an email.

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If the chatbot follows those instructions, it could take actions the user never intended, such as sharing private information or changing account settings.

In a blog post, OpenAI explained that once the agent is allowed to access connected websites, it may also be able to view sensitive information, such as emails, files, or login data.

The post also noted that attackers could try to trick the assistant by hiding commands in everyday text. If that works, the assistant might send data to an unauthorized user or perform actions without the user’s knowledge.

OpenAI first announced the agent on July 17. At the time, the full launch was planned for a few days later, but it ended up being released on July 24, along with an update to the ChatGPT app.

Recently, xAI, Elon Musk’s artificial intelligence (AI) company, fixed the problems with Grok 4’s offensive responses. What did the company say? Read the full story.

Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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July 20, 2025

Bitcoin’s recent peak at $123,100 has triggered warnings of a potential local top as on-chain metrics signal overextension.

The cryptocurrency quickly retraced 6% to around $115,700 after hitting the all-time high, with advanced NVT signals crossing above historical red deviation bands that typically coincide with cycle peaks.

The current bull market’s largest pullback remains only 23.48%, well below previous cycle corrections of 30-80%, indicating the underlying trend structure remains healthy despite short-term overextension signals.

Technical analysis reveals that Bitcoin is consolidating within a symmetrical triangle pattern, with support between $116,000 and $117,000 and descending resistance around $120,000.

Triangle Consolidation Tests $125,000 Breakout

Bitcoin’s 4-hour chart indicates consolidation within a symmetrical triangle pattern, with the apex approaching around $117,837.

The formation creates compression between descending resistance and ascending support at $116,000-$117,000, building energy for eventual directional resolution.

This coiling effect typically precedes a significant expansion of volatility.

A bullish breakout above the red trendline would likely trigger a move toward $125,000, representing approximately a 6% upside from current levels.

Conversely, a breakdown below the green support level could drive prices toward $111,000, marking a roughly 6% downside risk.

The symmetrical nature suggests neither bulls nor bears have gained decisive control.

Multiple-layered support zones provide cushioning for potential declines, with institutional buying historically emerging at these levels.

The eventual breakout direction becomes crucial for determining near-term momentum and validating either continuation or correction scenarios.

Global Liquidity Cycle Enters Distribution Phase

According to Merlijn The Trader, Bitcoin’s correlation with the global M2 money supply reveals that the cryptocurrency has transitioned into “Distribution” territory from its previous “Accumulation” and “Manipulation” phases.

This macro framework suggests that while liquidity expansion continues supporting Bitcoin’s advance, explosive gains may become more measured and volatile as the cycle matures.

Complex Fibonacci analysis has also projected Bitcoin’s cycle peak timing toward October, suggesting a more extended timeline than immediate parabolic acceleration.

The $133,665 – $151,539 resistance zone represents ultimate targets, but the path involves multiple consolidation phases rather than linear advance.

Current levels around $117,000-$118,000 correspond to substantial volume clusters where institutional accumulation and distribution have occurred.

This technical congestion creates multiple layers of support and resistance that require patience to navigate effectively during the Distribution phase.

Best Wallet: Final Opportunity to Secure $BEST Tokens

Best Wallet’s $BEST token presale is approaching its final phase, offering one last chance for investors to secure positions before the allocation is sold out permanently.

The token offers reduced fees, early access to presales, and staking rewards, which are perks rare in projects.

$BEST token holders unlock multiple revenue streams through the expanding ecosystem.

Reduced trading fees and priority access to new project launches become increasingly valuable as Bitcoin approaches cycle peaks and altcoin opportunities multiply.

The token’s utility extends beyond basic wallet functions. Best Wallet’s version 2.5.1 introduced full Bitcoin support alongside 60+ blockchain compatibility, providing secure non-custodial storage during uncertain market periods.

Integration with the Rubic exchange aggregator enables optimal swap rates across 200+ DEXs, which is essential for portfolio rebalancing as Bitcoin tests key resistance levels.

The platform’s upcoming crypto-backed debit cards and advanced trading tools position users for the next phase of the cycle.

With Bitcoin potentially reaching $125,000+ or facing $111,000 correction risks, having exposure to both secure storage infrastructure and the underlying $BEST token creates diversified opportunities.

The presale’s limited remaining allocation and approaching completion create a final window for early adopter advantages.

Author

Tim Alper

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Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

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Last updated: 

July 14, 2025

A group of Spanish lawmakers wants the country’s financial top regulator to force crypto to carry “traffic light”-style risk warnings.

The Spanish news agency EFE (via MSN ) reported that the Sumar group of MPs wants the National Securities Market Commission (CNMV) to use the system for retail investors.

The group says that the system would let users “clearly and visually” identify the type of asset they are purchasing.

Sumar has sent a written proposal to the regulator. The group complained that a “significant portion” of tokens traded on crypto exchange platforms “lack material backing or any underlying value.”

Traffic Light Crypto Warnings Coming to Spain?

The parliamentary group also wants to rename cryptoassets like Bitcoin (BTC) and Ethereum (ETH).

It proposes using terms like “crypto bets” or “unbacked assets.” The lawmakers justified their request by explaining that coins “do not grant their owners any rights to tangible assets or have any connection to productive activities.”

The traffic light warning system would see the CNMV apply one of three labels to each cryptoasset on an exchange or bank’s investing platform.

• The regulator would give a green light to cryptoassets that are registered, supported, and supervised. These coins would also need to demonstrate stable market performance.
• It would use yellow for cryptoassets that have “limited backing” or display moderate volatility.
• An orange light would identify “unsupervised” coins with high risk levels.
• And a final red label would be reserved for “speculative assets with no identified issuer or material backing.”

Crypto Concentrates Wealth, Say Lawmakers

Sumar said it is wary of “extreme forms of fictitious capital that do not generate value, but rather generate volatility, inequality, and wealth concentration.”

Carlos Martín Urriza, the Sumar spokesperson for Economy and Finance, said policymakers should protect retail investors from assets that are not backed by a verified asset or collateral.

He added that crypto trading is often more similar to betting than to investing. Furthermore, Sumar wants the CNMV to force banks and exchanges to ensure their customers read pre-purchase information on cryptoassets before allowing them to buy coins.

This should apply regardless of a token’s individual classification, Sumar said. It added that these mandatory warnings must be clearly summarized and contain visual elements.

Sumar suggested that the CNMV use prominent warning systems. It said the regulator should base its models on those already used in sectors such as gambling or tobacco sales.

Restrict Access to AI-powered Trading, MPs Urge

Sumar lawmakers also want to create specific regulations for algorithmic trading pools. And the group wants to restrict retail investors’ access to trading platforms that use AI or algorithms.

Sumar is a left-wing coalition comprising 20 parties that was first formed to run in the July 2023 general elections.

Although it does not have a representation in the Senate, it has 31 lawmakers in the lower house, the Congress of Deputies. It makes up one of the 11 political blocs in Prime Minister Pedro Sánchez’s ruling coalition.

This year has seen some of Spain’s largest banks move into the crypto sector as the popularity of coins continues to grow on the Iberian Peninsula.

Edgar Cervantes / Android Authority

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