Based on AiCoin, Philippine internet service providers (ISPs) have started blocking major cryptocurrency exchanges Coinbase and Gemini. This action follows stricter local licensing requirements for virtual asset service providers by the country's regulators. Under the directive from the National Telecommunications Commission, ISPs are ordered to restrict access to 50 online trading platforms not authorized by the Bangko Sentral ng Pilipinas (BSP). Although the BSP has not disclosed the full list of affected platforms, the move highlights the importance of local licensing for entry into the Philippine crypto market.
Philippines Blocks Coinbase and Gemini to Enforce Local Licensing for Crypto Services
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Summary
The Philippines has blocked access to Coinbase and Gemini as part of a crackdown on unlicensed crypto platforms. ISPs are enforcing a directive from the National Telecommunications Commission to limit access to 50 sites not authorized by the Bangko Sentral ng Pilipinas. The move enforces local licensing for crypto service providers. While the full list of affected exchanges remains undisclosed, the action signals tighter regulation for cryptocurrency operations in the country.
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