Hyperliquid in the Philippines
Restricted: not geoblocked by Hyperliquid, but the SEC treats unregistered crypto-derivatives platforms, DEX perps included, as illegal to offer or promote.
| Hyperliquid terms | Not restricted by Hyperliquid's terms |
|---|---|
| National position | Restricted |
| Regulator | Securities and Exchange Commission (SEC Philippines) |
| Last reviewed | 23 October 2026 |
The legal situation in the Philippines
The Philippines is not on Hyperliquid's restricted list. Crypto-asset service providers must register under the SEC's CASP framework, and regulators have blocked unregistered exchanges: Binance in 2024, and Coinbase and Gemini on 24 December 2025. On 21 April 2026 the SEC issued an investor alert on decentralised perps platforms (dYdX, Aevo, gTrade, Pacifica, Orderly, Ostium, Deriv). Hyperliquid was not named.
Key facts
- 21 Apr 2026: SEC alert named dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium as unregistered; Hyperliquid was not named.
- Promoting unregistered platforms can mean fines up to PHP 5 million and up to 21 years in prison under the Securities Regulation Code.
- Access blocks on unregistered exchanges: Binance (2024), Coinbase and Gemini (24 Dec 2025).
- Firms offering crypto services to Filipinos must be licensed under the SEC CASP rules.
What are your options in the Philippines?
If Hyperliquid or local law restricts this country, the honest answer is: don't try to get around it. Using a VPN breaks Hyperliquid's Terms of Use and may break local law. Look for derivatives platforms licensed by Securities and Exchange Commission (SEC Philippines), and check back here: rules change.
Sources
General information, not legal advice. Check the regulator's own website before acting.
Frequently asked questions
Is Hyperliquid legal in the Philippines?
Restricted: not geoblocked by Hyperliquid, but the SEC treats unregistered crypto-derivatives platforms, DEX perps included, as illegal to offer or promote.
Can I use a VPN for Hyperliquid in the Philippines?
No. Hyperliquid's Terms of Use prohibit using a VPN to get around location restrictions, and it may also break local law.