According to a report by TechFlow on December 24th, the Philippine National Telecommunications Commission (NTC) has ordered internet service providers to block several global cryptocurrency exchanges, including Coinbase and Gemini. This move is part of the Philippine Central Bank's (BSP) crackdown on unauthorized virtual asset service providers (VASPs), and reportedly 50 exchanges have been added to the blocking list.
This marks a shift by Philippine regulators from informal tolerance to strict enforcement, requiring all crypto exchage to obtain local licenses to operate in the Philippines. Similar measures were imposed on Binance in the Philippines last December.
