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Krystal Finance, a multi-chain decentralized finance (DeFi) management platform and DEX aggregator, has implemented a mandatory disclaimer for users attempting to access its services from the Philippines.
Unlike the recent network-level blocks enforced by the National Telecommunications Commission (NTC), Krystal’s measure functions as a “soft block,” relying on user self-attestation to mitigate regulatory liability.
The “Sign and Proceed” Waiver
Filipino users accessing the Krystal interface are now presented with a “Terms & Conditions agreement” pop-up. The notice requires users to acknowledge two key points before they can interact with the platform:
- Residency: Confirmation that the user is “not accessing this app from, or a resident of, the Philippines”.
- Anti-Circumvention: A pledge that the user is not utilizing a Virtual Private Network (VPN) to mask their physical location.
According to Migs Caparas, a web3 industry professional, the pop-up waiver is a recent addition to the platform’s interface, as it was not present in previous months:
I started using Krystal Finance back in around February 2025. This pop-up wasn’t there back then. My cousin signed up around July and it wasn’t there either. It was December when I first saw the notification.
Crucially, the platform allows users to bypass this prompt by clicking a “Sign & Proceed” button. This mechanism differs from a “hard block” (where access is technically impossible without a VPN) and instead acts as a “clickwrap” legal agreement.
By clicking the button, the user effectively enters into a binding contract stating they are compliant, thereby shifting the legal burden of non-compliance from the platform to the individual user.
What is Krystal Finance?
Krystal is not a single exchange but a DeFi aggregator and portfolio management platform. It functions as an “all-in-one” interface that allows users to access services across multiple blockchains, including Ethereum, BNB Chain, and Solana.
Its primary features include:
- DEX Aggregation: It routes token swaps through various underlying exchanges (like Uniswap or PancakeSwap) to find the best rates for users.
- Portfolio Management: It provides tools to track assets, manage liquidity pools, and monitor “Earn” products like lending and staking.
Almost Similar Instances
- Uniswap (2021): In July 2021, Uniswap Labs, developer of the Uniswap protocol, delisted approximately 100 tokens from its official website interface. While the tokens were still tradeable on the blockchain, the company removed them from the standard user menu to comply with evolving regulatory pressure at that time.
- TokenLot (2018): The regulators targeted the platform’s operators for facilitating trading through their interface,
Why a Waiver Instead of a Ban?
The introduction of the pop-up appears to be a compliance-oriented measure designed to repspect the Philippines’ Crypto Asset Service Provider (CASP) framework of the Securities and Exchange Commission (SEC). This approach balances the need for regulatory alignment with the decentralized nature of the platform.
- By requiring users to attest to their location, Krystal integrates a layer of user verification into its terms of service.
- This ensures that the platform has formally communicated jurisdictional restrictions, placing the responsibility on the user to accurately report their residency status.
This article is published on BitPinas: DeFi Platform Krystal Finance Displays Legal Waiver Pop-Up to Pinoys Accessing Its Dex
Disclosure: The writer used AI to assist in editing the article
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