Internet service providers in the Philippines have begun blocking access to major crypto platforms, including Coinbase and Gemini, as regulators tighten licensing enforcement.

Regulatory Order: The National Telecommunications Commission (NTC) directed ISPs to restrict 50 unauthorized platforms flagged by the central bank (BSP) for operating without local licenses.

Escalating Enforcement: This move follows the earlier ban of Binance in early 2024, signaling a firm shift from informal tolerance to strict regulatory compliance for market access.

Growth of Regulated Players: Despite the crackdown on offshore exchanges, compliant local firms are thriving. PDAX recently launched stablecoin payroll services, and digital bank GoTyme introduced in-app crypto trading for 11 digital assets.