According to Bitcoin.com, the Central Bank of the Philippines (BSP) warned investors against dealing with unregistered foreign cryptocurrency service providers, saying that “they may enforce legal recourse against local customers, consumer protection and redress mechanisms, etc. bring additional challenges." In addition, the Central Bank of the Philippines warned that the government does not guarantee protection against financial losses caused by cryptocurrency price fluctuations, emphasizing that the public should act with caution, conduct their own due diligence, and always be aware of risks before participating in virtual asset-related activities.