Philippines Tightens Regulations: ISPs Block Unauthorized Exchanges, Local Licensing Becomes a Key Entry Requirement

【ChainNews】The Philippines’ cryptocurrency market is experiencing a policy shift. The National Telecommunications Commission recently issued directives to local internet service providers, requiring them to restrict access to 50 online trading platforms. These platforms are all deemed unauthorized operations by the Bangko Sentral ng Pilipinas (BSP).

The immediate impact has been felt—several local ISPs have begun implementing blocking measures. Filipino users report that major global exchanges, including Coinbase and Gemini, are no longer accessible. The blocking covers most major platforms, creating significant market entry barriers for local users.

This change reflects a shift in regulatory attitude. Previously, the Philippines maintained a relatively lenient stance towards cryptocurrencies, adopting a wait-and-see approach. Now, authorities are enforcing a local licensing system. What does this mean? Only platforms officially authorized by the BSP will be able to operate stably in the country in the future. The market entry threshold for exchanges has been significantly raised. For users, choosing compliant platforms has become a necessary condition.

Although the full list of blocked platforms has not yet been disclosed, the regulatory signals are clear—moving from tolerance to strict enforcement, local licensing will be a decisive factor.