Following a blockade of Binance in the country, the Philippines’ securities regulator is now targeting the online trading platform eToro.
The Securities and Exchange Commission in the Philippines has issued an advisory against online trading platform eToro, saying it is not authorized to sell or offer securities in the country.
The financial regulator issued the advisory in March, which was posted publicly on April 4, informing the public that the online investment trading platform eToro is “not authorized to sell or offer securities to the public in the Philippines.”
"ETORO’s operations allow Filipinos to create user accounts on their platform for the purpose of investing and trading unregistered investment products," the SEC wrote in its advisory.
