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Internet service providers (ISPs) in the Philippines began blocking major crypto trading platforms as regulators moved to enforce local licensing rules on crypto service providers.&nbsp;
Users <a href="https://x.com/IOTA_ph/status/2003471117022044176" rel="noopener noreferrer nofollow">reported</a> that as of Tuesday, access to global cryptocurrency exchanges Coinbase and Gemini was unavailable in the Philippines. Cointelegraph independently confirmed that both platforms were inaccessible across multiple local ISPs.&nbsp;
A report by the Manila Bulletin <a href="https://mb.com.ph/2025/12/22/50-unlicensed-trading-platforms-blocked-by-ntc-following-bsp-order" rel="noopener noreferrer nofollow">said</a> the ISP blocks followed an order from the National Telecommunications Commission, which directed providers to restrict access to 50 online trading platforms flagged by the Bangko Sentral ng Pilipinas (BSP), the central bank, as operating without authorization.
The central bank did not publish a full list of the platforms hit by the order. However, the change signals an ongoing shift by local regulators from informal tolerance to enforcement, making local licensing the deciding factor for crypto market access in the Philippines.
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 <img src="https://s3.cointelegraph.com/uploads/2025-12/019b4f96-4717-72fd-844f-f43ea834bfc3.jpg" title="" alt="Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs">
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 Crypto exchange Coinbase is now inaccessible in the Philippines. Source: Cointelegraph
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<h2 id="coinbase-gemini-join-binance-in-philippines-access-block">Coinbase, Gemini join Binance in Philippines access block</h2>
While the Philippines has only recently blocked Coinbase and Gemini, the country has made enforcement moves against unlicensed crypto exchanges in the past.&nbsp;
In December 2023, the country <a href="https://cointelegraph.com/news/philippines-sec-begins-binance-ban-countdown" rel="noopener noreferrer nofollow">started a 90-day countdown</a>, giving Binance time to comply with local regulations before enforcing a ban on the crypto trading platform.
The Philippines Securities and Exchange Commission (SEC) said the period was meant to allow Filipinos to remove their funds from the exchange.&nbsp;
On March 25, 2024, the NTC <a href="https://cointelegraph.com/news/binance-ban-philippines-sec-fund-retrieval-investors" rel="noopener noreferrer nofollow">ordered local ISPs to block Binance</a>. Nearly a month later, the SEC <a href="https://cointelegraph.com/news/philippines-sec-apple-google-remove-binance-app-stores" rel="noopener noreferrer nofollow">ordered Apple and Google</a> to block the exchange’s application from their stores.
After the ban was enforced, the Philippines SEC said it <a href="https://cointelegraph.com/news/binance-ban-philippines-sec-fund-retrieval-investors" rel="noopener noreferrer nofollow">could not endorse ways for Filipinos</a> to retrieve their funds.
More recently, the <a href="https://cointelegraph.com/news/philippines-sec-warns-okx-bybit-kucoin-kraken-unregistered" rel="noopener noreferrer nofollow">SEC identified 10 exchanges</a>, including OKX, Bybit and KuCoin, operating without licenses.
Related: <a href="https://cointelegraph.com/news/grab-straitsx-stablecoin-settlement-mou-web3-wallet-asia" rel="noopener noreferrer nofollow">Grab deepens stablecoin push with StraitsX Web3 wallet and settlements</a>
<h2 id="regulated-players-roll-out-crypto-products">Regulated players roll out crypto products</h2>
While the country cracks down on unregulated platforms, compliant companies have been rolling out crypto-related infrastructure in the country.&nbsp;
On Nov. 19, regulated crypto exchange PDAX partnered with payroll provider Toku to let remote workers <a href="https://cointelegraph.com/news/new-toku-pdax-partnership-filipino-workers-receive-pay-in-stablecoins-instant-local-cashout" rel="noopener noreferrer nofollow">receive their salaries in stablecoins</a>. This allows workers to convert earnings to pesos without wire fees or delays.&nbsp;
On Dec. 8, digital bank GoTyme <a href="https://cointelegraph.com/news/gotyme-digital-bank-philippines-rolls-out-crypto-services" rel="noopener noreferrer nofollow">rolled out crypto services in the Philippines</a> following a partnership with US fintech firm Alpaca. With the rollout, 11 crypto assets can be bought and stored through the platform's banking application.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/sei-wallets-xiaomi-bhutans-gold-solana-asia-express/" rel="noopener noreferrer nofollow">Sei wallets in Xiaomi, Bhutan’s gold on Solana: Asia Express</a>

Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs

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