#eToro SEC

Financial app eToro will no longer be offering their services in the Philippines. If any users miss the deadline, moving crypto positions to the eToro wallet will not be available. Until then, users are urged to transfer coins from their eToro wallets to an external wallet. While eToro has been tight-lipped towards this move, an advisory from the Securities and Exchange Commission (SEC) might shed some light. TL,DR: the platform isn’t authorized to sell or offer securities in the Philippines. Just received an SMS from my account manager from Security Bank early this morning (this was after one missed call). Then, we noticed several other Security Bank customers also report of the same SMS confirmation (just that mine was more personalized). I was also told by my account manager that this is a new security policy they are enforcing, especially if the withdrawals are sizable. Read more in our articles including "eToro ending services in the Philippines" and "Security Bank now sends SMS on ATM transactions".