🚨 Philippines Blocks Coinbase & Gemini!
The Philippines government is cracking down on unlicensed crypto platforms, blocking access to Coinbase and Gemini via major ISPs.
Key Details
This follows orders from the National Telecommunications Commission (NTC) and Bangko Sentral ng Pilipinas (BSP), targeting 50 unregistered Virtual Asset Service Providers (VASPs). Users report sites are inaccessible on networks like Globe and PLDT, similar to the earlier Binance ban.
Why Now?
Platforms must secure a local VASP license under BSP rules to operate legally, focusing on AML/KYC compliance and investor protection. The full list isn't public yet, but enforcement aims to align global exchanges with Philippine financial regs.
User Impact
Filipino traders face restricted access; VPNs risk violations and offer no regulatory safeguards. Licensed local options like PDAX remain available for compliant trading.
