Bybit Philippines 2026: SEC Ban Explained — Why You Can’t Sign Up (And What to Use Instead)
Key Takeaways
- Bybit is blocked for new registrations in the Philippines — the SEC named it among 10 unregistered platforms in an advisory dated August 1, 2025.
- Existing accounts: reports say holders could still log in and withdraw; we found no announced closure deadline as of October 2026. Confirm in your own app.
- The Bybit app was no longer on PH Google Play as of March 18, 2026; PLDT and Globe confirmed website blocks following NTC orders.
- Crypto trading itself is NOT banned in the Philippines — only platforms that haven’t registered under the SEC’s CASP framework.
- Coins.ph (BSP-licensed VASP) is the broadest local alternative: GCash integration and PHP cash-in options.
- Fee trade-off is real: PDAX adds cash-in fees when you fund by e-wallet (GCash about 2.90%); Coins.ph Pro uses volume tiers, so check its live fee table.
What Happened: The 2025 SEC Philippines Crackdown
If you’ve searched for “Bybit Philippines” in 2026, you already know something is wrong. The app is gone from Google Play. The website loads slowly or not at all on PLDT and Globe connections. And when you try to create a new account, you hit a wall.
Timeline of the SEC action and Bybit’s restrictions, with dates you can check:
- July 5, 2025 — The SEC’s Crypto Asset Service Provider (CASP) Rules and Guidelines (Memorandum Circulars 4 and 5, series of 2025) took effect. Platforms offering crypto-asset services to Philippine residents need SEC registration or authorization.
- August 1, 2025 — The SEC issued a public advisory naming 10 unregistered exchanges: Bybit, OKX, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart, and Poloniex. The SEC said the list is not exhaustive.
- Following weeks — The advisory said the SEC may request blocking of websites and apps and takedowns from platforms such as Google and Meta. BitPinas reports that PLDT and Globe confirmed website blocks that followed NTC orders.
- November 2025 — BitPinas reported that Bybit stopped new registrations from the Philippines: restricted-region errors for PH IPs, and +63 mobile numbers rejected even through a VPN.
- March 18, 2026 — BitPinas found the Bybit app no longer listed on the Philippine Google Play Store. iOS availability depends on your Apple ID country setting.
BitPinas, a Philippine crypto news site, reported in November 2025 that Bybit no longer accepts new users from the Philippines.
The SEC geo-blocked Binance’s website before the Bybit advisory. For Bybit we found no formal wind-down deadline, so check your account status rather than wait for a notice.
Can I Still Use My Existing Bybit Account from the Philippines?
This is the question that matters most to Filipino crypto users who were already on Bybit before the restrictions.
Short answer: community reports say yes, for now. Existing accounts could still log in and withdraw when we last checked, and we found no announced closure or fund-freeze date for Philippine users as of October 2026. Check your own account and Bybit’s announcements before relying on this.
Practical reality: PLDT and Globe confirmed blocks after NTC orders, so the Bybit website may not load on those connections. A VPN is not illegal in itself, but it does not change your exposure to the SEC advisory or Bybit’s terms; check the FAQ before relying on it.
The prudent path: if you hold funds on Bybit, the safest option is to withdraw them to a BSP-supervised local exchange or a self-custody wallet. Funds on a platform the SEC lists as unregistered come with less local recourse, so compare the network fee before you confirm.
How to withdraw from Bybit to a local exchange (check the network fee before you confirm):
- Step 1: On Bybit, go to Assets → Withdraw. Select your coin (USDT is a common choice for conversion to PHP).
- Step 2: Get your deposit address from Coins.ph or PDAX inside the app, and send a small test amount first.
- Step 3: Send from Bybit to your Coins.ph/PDAX wallet address. Choose a network your receiving platform supports and compare the network fee shown on the Bybit withdrawal screen.
- Step 4: Once received on Coins.ph or PDAX, sell for PHP and withdraw to GCash, Maya, or your bank.
Why the SEC Moved Against Bybit (Not Just Bybit)
The SEC’s CASP framework wasn’t designed to target Bybit specifically. The August 2025 advisory named 10 exchanges simultaneously, Bybit among them.
Check what the CASP rules require of a platform serving Philippine residents:
- Register as a Crypto Asset Service Provider with the SEC
- Comply with Philippine AML laws and customer protection requirements
- Submit to ongoing SEC oversight and reporting
Bybit has not said publicly why it has not registered. Other exchanges on the advisory list, such as KuCoin and Kraken, face the same decision, and we found no announced CASP applications from them as of October 2026.
The BSP (Bangko Sentral ng Pilipinas) runs a parallel licensing track for Virtual Asset Service Providers (VASPs). Platforms like Coins.ph and PDAX operate under BSP supervision as VASPs. Check each platform’s current SEC CASP status before depositing, since the SEC’s registry is the authority on that.
Crypto itself is not illegal in the Philippines; the SEC’s concern is platforms that are not registered locally. It framed the advisory as consumer protection, so check a platform’s SEC and BSP status before you deposit.
What PH Crypto Traders Are Actually Losing with Bybit Gone
Before recommending alternatives, it’s worth being honest about what the locally supervised exchanges cannot replicate. If you were a regular Bybit user, these gaps are real:
Derivatives and futures trading: Bybit offers perpetual contracts, USDT futures and options. The local platforms covered below focus on spot trading and do not offer comparable derivatives, so compare their product lists before you move; this is the biggest gap to plan around.
Coin selection: Bybit lists far more assets than the local exchanges. For mainstream coins (BTC, ETH, SOL), the local exchanges are adequate; for altcoins and DeFi tokens, expect a much narrower selection.
Trading fees: PDAX’s fees page shows trading and cash-in costs by channel (checked October 25, 2026): funding by GCash costs about 2.90% on top, so read it before you size trades. Coins.ph’s Pro fee tiers vary by 30-day volume and published figures differ between sources, so read the live fee table inside Coins Pro before you size your trades.
OFW use case: many overseas workers used Bybit to hold and move USDT for remittance. With Bybit restricted, compare the transfer route through Coins.ph, PDAX or a self-custody wallet; the mechanics change but the use case remains.
For more on crypto cards available to Filipino users, see our guide to RedotPay Philippines — GCash and Maya OFW Remittance Guide and the Bitget Wallet Card Philippines Review for self-custody alternatives that remain accessible.
Best Bybit Alternatives in the Philippines (BSP + SEC Licensed)
These three platforms operate under the BSP’s VASP framework and support PHP cash-in and cash-out through local channels. Verify each one’s SEC CASP status yourself before depositing.
#1 Coins.ph — Best Overall for PH Users
Coins.ph is one of the main local on-ramps with several PHP funding options; check its current SEC and BSP status on its site before you deposit.
- Spot trading fee: Coins Pro uses volume tiers; published ranges differ, so check the live fee table
- Standard app: convenience pricing is higher than the Pro order book
- Deposit methods: GCash and bank transfer, plus over-the-counter options shown in the app
- KYC documents: government-issued Philippine ID plus selfie
The GCash integration is the biggest practical advantage: you can fund and cash out through an e-wallet most Filipinos already use, and the fee depends on the channel you choose.
The main limitation: no derivatives or futures, and the standard app costs more than the Pro order book. Active traders should use Coins Pro.
Best for: Beginners, GCash users, OFW remittance. Coins.ph official site.
#2 PDAX — Best for GCash Crypto via GCrypto
PDAX (Philippine Digital Asset Exchange) says on its fees page that it is supervised by the BSP. BitPinas reported that GCash built GCrypto on PDAX’s licence, so compare PDAX’s cash-in fees before you fund it.
- Spot trading fee: see the live PDAX fees page
- Cash-in: InstaPay and PESONet (fees depend on your bank/e-wallet app), online bank transfer (free), GCash (about 2.90%), GrabPay (about 1.70%), Maya (about 3% + ₱15)
- Regulator: supervised by the BSP (per PDAX’s fee page)
- GCash integration: Powers GCrypto inside GCash — if you use GCash, you’re already using PDAX infrastructure
The fee structure is the trade-off. Cash-in fees add up if you fund through GCash (about 2.90%) or Maya (about 3% + ₱15), so PDAX gets expensive for small, frequent top-ups. Funding by online bank transfer avoids the cash-in fee. But for someone who buys BTC or ETH once a month as savings, the compliance depth and GCash integration may be worth the premium.
PDAX Prime targets institutional and advanced traders with tighter spreads and direct PHP wire capabilities — if you’re trading ₱500,000+ per month, contacting PDAX for institutional rates is worth doing.
Best for: GCash users who want to stay within the GCash ecosystem, and PHP direct-deposit traders. PDAX official site.
#3 Maya Bank Crypto — Best for Existing Maya Users
Maya Bank (formerly PayMaya) is a BSP-licensed digital bank that includes a crypto feature in its app. It’s not a full-featured exchange — you can’t set limit orders or trade pairs — but it lets you buy, hold, and sell BTC and ETH directly from a PHP savings account.
- Regulator: BSP-licensed digital bank
- Deposit method: Maya e-wallet, InstaPay, bank transfer
- Coins available: Limited selection (BTC, ETH, and select others)
- Spreads: Higher than dedicated exchanges — spreads are embedded in the buy/sell price
Maya is not a Bybit replacement for active traders. It’s a convenience layer for people who want simple BTC/ETH exposure without managing a separate crypto app. If you already use Maya for banking, the crypto add-on adds no friction.
Best for: Passive investors and Maya account holders wanting simple crypto exposure. Maya official site.
Fee Comparison: Bybit vs Philippines-Licensed Alternatives
This table compares what is verifiable for the platforms most relevant to PH users. Bybit is included for reference only: new registrations from the Philippines are blocked.
| Platform | Spot fees | PHP cash-in | New PH sign-ups |
|---|---|---|---|
| Bybit (reference) | See Bybit fee page | Not available | Blocked |
| Coins.ph / Coins Pro | Volume tiers; check live table | GCash, bank transfer, OTC | Open |
| PDAX | See PDAX fees page | InstaPay, PESONet, bank transfer, GCash, GrabPay, Maya | Open |
| Maya Bank Crypto | Spread-based | Maya wallet, InstaPay | Open |
The key trade-off is local accountability vs. cost. PDAX’s e-wallet cash-in fees are the main cost to watch, while Coins Pro’s volume tiers make it the more likely fit for frequent traders. Compare the live fee tables before you move size.
What About OKX, Binance, and Other Offshore Exchanges?
OKX was also named in the August 2025 SEC advisory alongside Bybit, and BitPinas reported its app being removed from Google Play in the Philippines too, so it is not a compliant alternative for new users.
Binance has its own history in the Philippines: the SEC geo-blocked its website before the August 2025 advisory, and its app was reported removed from Google Play. Treat it as unavailable for new Philippine users and do not rely on VPN workarounds.
The SEC said its list of 10 is not exhaustive. New PH crypto users are better off starting on a locally supervised platform than assuming an offshore exchange will stay accessible.
For a broader comparison of crypto exchanges available in the Philippines, see our OKX Card Philippines Review which covers OKX’s current PH market status and the GCash funding situation in detail.
KYC and Account Verification on PH-Licensed Exchanges
If you’re opening a new account on Coins.ph or PDAX, the KYC process is more demanding than what Bybit required at basic tier — but it’s also what gives these platforms their BSP/SEC compliance credentials.
Typical documents (confirm in each app):
- One government-issued Philippine ID (for example a passport, driver’s license or UMID; accepted types vary by platform)
- Selfie with the ID (live photo, not a scan of a photo)
- Proof of address may be requested for higher-limit verification
Review times vary by platform and tier, so check the in-app estimate. The selfie-matching step is the one most likely to need a retry: use good light and a plain background.
One practical note for OFWs: if your address is overseas, ask the platform’s support what proof of address it accepts before you submit. Give only your own, accurate details.
Philippine Crypto Regulations and Bybit’s Path Back
The Philippines now has a formal CASP framework, which is why the 2025 enforcement landed the way it did.
Will Bybit return? We found no Bybit announcement about a Philippine CASP registration. For now the new-registration block has no announced end date, so plan your activity around locally supervised platforms until that changes.
Two separate regulatory tracks:
- BSP (Bangko Sentral ng Pilipinas): Supervises Virtual Asset Service Providers (VASPs) that handle fiat-to-crypto exchange, including Coins.ph and PDAX.
- SEC Philippines: Registers Crypto Asset Service Providers (CASPs) under the 2025 rules and issued the August 2025 advisory.
The August 2025 advisory was specifically about platforms not registered under the SEC’s CASP rules.
Key point: The Philippine government has not banned cryptocurrency itself. The SEC frames this as consumer protection: PH users should deal with platforms that are accountable locally.
For Filipinos, crypto itself is not banned, but dealing with platforms the SEC has flagged carries real risk, including limited local recourse; check the platform’s status first.
For a broader look at what crypto cards are available for Filipinos who want to spend crypto directly, the Tria Card Philippines Review covers a crypto Visa card option for OFW and remittance users.
Frequently Asked Questions
Can I still use Bybit in the Philippines in 2026?
Reports say existing account holders could still log in and withdraw funds. New registrations from the Philippines are blocked. The Bybit app was no longer on PH Google Play as of March 18, 2026, and PLDT and Globe confirmed website blocks following NTC orders. We found no announced deadline for existing account closure as of October 2026.
Is Bybit banned in the Philippines?
Not “banned” in the sense of a criminal prohibition. The SEC Philippines issued a public advisory dated August 1, 2025 naming Bybit among 10 unregistered platforms, and said it may request website and app blocks. Bybit then stopped new PH registrations. Existing users may still reach their accounts, but access over PLDT or Globe may be blocked.
What is the best Bybit alternative in the Philippines?
For most Philippine users, Coins.ph is the broadest alternative: it is a BSP-licensed VASP, supports GCash, and has a Pro order book with volume-tiered fees. PDAX is the second option, especially for GCash users since it is the licensed partner behind GCrypto. Maya Bank is a simpler option for basic BTC/ETH exposure if you already use Maya.
Can I withdraw my funds from Bybit if I am in the Philippines?
Reports say existing Bybit accounts could still withdraw. A common approach is to withdraw USDT (check the network fee shown in the Bybit withdrawal screen before sending) to your Coins.ph or PDAX deposit address, sell for PHP on those platforms, and withdraw to GCash or your local bank. Keep copies of all transaction records for your own documentation.
Why did the SEC Philippines block Bybit and not local exchanges?
The SEC’s CASP framework requires platforms serving Philippine users to register with or be authorized by the SEC. The SEC named Bybit and nine other platforms as unregistered in its August 2025 advisory. Coins.ph and PDAX operate under BSP supervision; check each one’s current SEC status.
Is Binance still available in the Philippines?
The SEC geo-blocked Binance’s website before the August 2025 advisory, and its app was reported removed from Google Play. Treat it as unavailable for new Philippine users; Coins.ph and PDAX are the locally supervised choices.
Can I use a VPN to register on Bybit from the Philippines?
Using a VPN is not illegal under Philippine law. However, circumventing a platform’s geographic block by misrepresenting your location may violate Bybit’s Terms of Service and could affect your account standing. More importantly, it doesn’t resolve the underlying SEC compliance issue — your account would remain on an unregistered platform with no Philippine legal protections. This article does not recommend VPN workarounds for regulatory circumvention.
Disclosure and disclaimer: This article contains no affiliate or referral links. Philippine crypto rules are evolving; the SEC and BSP details here reflect sources checked in October 2026 and are not legal or financial advice. Verify any exchange’s status with the SEC and BSP before depositing funds.
