#SEC

The Securities and Exchange Commission (SEC) has ordered the XM Group to stop offering investments in the Philippines for operating without the required licenses. In November 7, 2025, the SEC issues a cease and desist order to Trading Point Holdings Limited, also known as XM, XM Global Limited, and XM Philippines. SEC has named Manny Pacquiao and forex trader Jonathan Lou Reyes as endorsers of the platform. To protect investors, the SEC also froze the company’s bank transactions and blocked the transfer of its assets. SEC has stated that XM is not registered in the Philippines and does not have the required licenses along with permits for crypto-related services. The Securities and Exchange Commission (SEC) has officially ruled to restrict the operations of Binance in the Philippines. In the press statement below, the SEC noted that they have filed for a request with the National Telecommunications Commission (NTC) to block Binance’s website. This is inclusive of all their web pages, with the request being on the grounds of the cryptocurrency giant operating without the necessary license from the SEC. Read more in our articles including "SEC issues cease and desist order vs XM Group" and "SEC restriction of local Binance operations now official".