SEC Philippines Cautions Investors on Unauthorized Operations of 'KBS' Entities
The Securities and Exchange Commission (SEC) of the Philippines has issued a public advisory against LS, KBS, KBSEX, KBS Exchange, KBSEX Exchange, LS KBS Crypto Trading, LS Crypto Currency Humanitarian Org. Cebu, and SDX Exchange (collectively ‘KBS’), are warning that these entities are not authorized to solicit investments or offer securities in the country.
KBS promotes itself as the “safest Bitcoin exchange,” claiming to enable global transactions. In reality, the scheme requires participants to deposit funds, typically USD 100 or more, via GCash, USDT, or bank transfers, in exchange for promises of daily income and humanitarian benefits. Recruitment is conducted through invitation links, private messaging groups such as BonChat, and a mobile app called the KBS App, available on Google Play and the Apple App Store.
The operators further claim to hold a U.S. Money Services Business (MSB) license. However, this assertion is misleading: FinCEN registration does not authorize trading activities, nor does it serve as a license to sell securities.
KBS and its related entities actively use social media to entice Filipinos into creating accounts and trading unregistered investment products through the main website kbsexx.com and the KBS App.
The Philippine SEC records confirm that none of these entities are registered as corporations, partnerships, or One Person Corporations in the Philippines. They also lack secondary licenses and regulatory sandbox applications.
The SEC strongly cautions the public not to invest in or transact with KBS or any related entities and exercise extreme caution when approached by individuals soliciting investments on behalf of KBS.
Unregistered investment offerings pose serious risks of fraud and financial loss. Investors can ask a question on BrokersView for verification before investing.
Recently, the Philippine SEC has warned against EXNESS GLOBAL LIMITED, its associated trading application, and individuals acting under its name.
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