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THE Securities and Exchange Commission (SEC) has issued advisories against HTS and its related entities, warning investors that these platforms have been offering securities without the required registration or license.<\/span><\/p>\n In a notice, the company regulator said HTS \u2014 also often called HTX Cryptocurrency Exchange, HTX Exchange, Huobi Global Limited, Huobi Global S.A., and Huobi \u2014 presents itself as a digital asset exchange offering trading, derivatives, wallet, and blockchain-related services. It promotes its platform through its website, social media, and mobile applications.<\/p>\n The SEC said these platforms allow users, including those within the Philippines, to open accounts, deposit funds in fiat or digital assets, and trade cryptocurrencies and derivatives online. Such activities may constitute the offering and sale of securities under Section 3.1 of the Securities Regulation Code (SRC).<\/p>\n \u201cRecords of the Commission show that HTX will not be registered as a company, partnership, or one-person corporation within the Philippines and doesn’t have the obligatory license and\/or authority to supply, sell, or distribute securities to the general public, or to act as a broker or dealer in securities under section 28 of the SRC,\u201d the SEC said.<\/p>\n The regulator added that HTX has not registered as a Crypto-Asset Service Provider (CASP), a requirement under SEC rules for entities offering crypto-related services to Philippine residents. The foundations apply to each local and foreign firms and aim to mitigate risks resembling fraud, financial losses, and illicit financial activity.<\/span><\/p>\n The Commission advised the general public to exercise caution when coping with unregistered online investment platforms and their representatives.<\/p>\n It warned that those that sell or promote these platforms within the Philippines, including through online channels, may face fines of as much as P5 million, imprisonment of as much as 21 years, or each.<\/span><\/p>\n Representatives, brokers, agents, promoters, influencers, or enablers may be held liable under the code, the regulator said.<\/p>\n HTX didn’t immediately reply to an e-mail searching for comment. \u2014 Alexandria Grace C. Magno<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" SEC.GOV.PH THE Securities and Exchange Commission (SEC) has issued advisories against HTS and its related entities, warning investors that these platforms have been offering securities without the required registration or license. In a notice, the company regulator said HTS \u2014 also often called HTX Cryptocurrency Exchange, HTX Exchange, Huobi Global Limited, Huobi Global S.A., and […]<\/p>\n","protected":false},"author":1,"featured_media":317870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[50551,33,3452,17694,40676,7749],"class_list":["post-317869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-htx","tag-investment","tag-platform","tag-sec","tag-unregistered","tag-warns"],"aioseo_notices":[{"message":"The permalink for this post just changed! This could result in 404 errors for your site visitors.","status":"warning","options":{"id":"0a2ae5f84bc2c0423042ed7ec22d2e40","isDismissible":true,"actions":[{"url":"https:\/\/ebiztoday.news\/wp-admin\/admin.php?page=aioseo-redirects","label":"Add Redirect to improve SEO","class":"aioseo-redirects-slug-changed"}]},"allowedContexts":["posts"]}],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/317869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=317869"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/317869\/revisions"}],"predecessor-version":[{"id":317872,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/317869\/revisions\/317872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/317870"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=317869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=317869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=317869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}