Most of the American and European exchange companies are so adamant they don't bother registering with the local land. They have no fear of the local laws. And just get office and presence and start trading. We already have seen how binance got their person locked in one of the african companies for not able to work on regulation and compliance. 

Be it every country, it seems western exchange companies find it easy to evade the rules in other nations. And that has caused them to worry on the closure when the SEC in respective nation raids. 

Recently easypeso was under fire for the compliance violations. As the philipines gets out of the  black list in the EU they want to retain them as a consumer. And there seems to be more compliance and law management coming into effect with the crypto as of now. 

Now they are getting more strict towards the exchanges which are not registered and have no compliance and the taxes in the land. And they are making sure to give them warning and then whole blanket ban would come into effect. You may also noticed that there would be compliance drive and asking for the companies to comply in future. 

Total 10 crypto exchanges are being warmed. Like 10 exchanges and that includes OKX and Bybit and many other similar so this would be pretty exciting option for the compliance team to catch them and if it doesn't work then maybe boot them out. This would also result in loss of the funds for the clients if things don't work out. 

But considering people invest heavily into crypto so there are chances that things would work out. And govt would be able to reduce the scams and the issues in the country. In grand scheme we would be able to see more solution in this phase from the SEC PH. 

You can check out the update on this alert here.