According to BitPinas, the OKX app has been taken down from Google Play in the Philippines, making it the third major cryptocurrency exchange to face such removal after Binance and Bybit earlier. The move follows a pattern of regulatory actions in the country targeting unregistered crypto platforms.
The Philippine Securities and Exchange Commission (SEC) has been actively cracking down on crypto exchanges operating without proper registration. Both Binance and Bybit were previously removed from app stores, and now OKX faces similar consequences. The removals are part of efforts to protect investors and ensure compliance with local securities laws.
OKX users in the Philippines may still access the platform through its website or alternative app stores, but the removal from Google Play significantly reduces accessibility. The SEC continues to warn the public against trading on unregistered platforms, emphasizing the risks of investing in unregulated cryptocurrency exchanges.