On April 21, the Securities and Exchange Commission (SEC) of the Philippines issued an investor warning, advising the public against investing in seven crypto trading platforms: dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium. The SEC stated that these platforms are not registered with the commission and have not obtained the necessary authorization required under the Crypto Asset Service Provider (CASP) framework. The SEC also warned that individuals promoting these platforms within the Philippines could face criminal liability, with penalties of up to 5,000,000 Philippine pesos (approximately $89,000) or a maximum of 21 years in prison.