Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs
Philippine ISPs began blocking Coinbase and Gemini following a central bank order against unlicensed crypto platforms.Summary
Internet service providers in the Philippines have started blocking access to major cryptocurrency exchanges Coinbase and Gemini, following a directive from the National Telecommunications Commission (NTC). This action stems from an order based on platforms flagged by the Bangko Sentral ng Pilipinas (BSP) for operating without the required local authorization. This move signals a regulatory shift toward strict enforcement of local licensing for crypto service providers. This follows previous actions against Binance, which was blocked in March 2024 after failing to comply with a grace period. The Securities and Exchange Commission (SEC) has also identified other unlicensed exchanges like OKX, Bybit, and KuCoin. Meanwhile, regulated entities, such as PDAX and GoTyme, continue to roll out compliant crypto services in the country.
(Source：Cointelegraph)