The SEC has declared Valtoro Spartan’s DeFi investment platform illegal, citing its outrageous return promises and multi-level referral system as violations of Philippine law.
The Commission identified the group operating under various names, including LS KBS Crypto Trading, KBSEX Exchange, and LS Crypto Currency Humanitarian Org. Cebu, among others.
The platforms are holding licenses from other jurisdictions but not in the Philippines.
Track the evolution of PH crypto month by month. From the SEC’s rules in January to the NTC crackdown in December, here are the 12 pivotal stories that defined the year.
Discussions on the online forum Reddit (r/phinvest) surfaced recently, with multiple users claiming they could no longer access the IBKR website and mobile application via specific internet service providers (ISPs).
The order also demands that the company, its officers, promoters, representatives, agents, influencers, and subsidiaries cease their internet presence related to the investment scheme.
Binance signaled openness to returning to the Philippines as regulators craft clearer crypto rules.
Local cryptocurrency influencer BitMaestro is facing a wave of backlash from the Filipino web3 community following allegations of involvement in a scam token and the mismanagement of his own paid NFT project.
SEC Philippines relaunches SEC Academy with free courses on finance, investing, entrepreneurship, and scam prevention.
The SEC has approved Blockshoals to test crypto infrastructure services in its regulatory sandbox with an undisclosed global exchange partner.
