ChainCatcher reports that, according to Cointelegraph, Philippine Internet Service Providers (ISPs) have begun blocking major cryptocurrency exchanges after regulators tightened local licensing oversight of cryptocurrency service providers.
Users have reported that they are unable to access global cryptocurrency exchanges Coinbase and Gemini in the Philippines, with multiple local ISPs also unable to access these platforms. The ISPs' blocking actions are based on an order from the National Telecommunications Commission (NTC). This order instructs service providers to restrict access to 50 online trading platforms deemed unauthorized operations by the Central Bank of the Philippines (BSP). The BSP has not released a complete list of platforms affected by the order. However, this shift indicates that local regulators are moving from an informal, tolerant approach to enforcement, and local licensing will become a decisive factor in access to the Philippine cryptocurrency market.
