Philippine ISPs Block Unlicensed Crypto Exchanges

Major Philippine ISPs Block Unlicensed Crypto Exchanges

August 7, 2025 – Manila: Leading internet service providers (ISPs) in the Philippines, including PLDT and Globe Telecom, have begun blocking access to several unregistered cryptocurrency exchanges such as Binance, KuCoin, Bybit, OKX, Kraken, and more. This move follows a directive from the Philippine Securities and Exchange Commission (SEC).

SEC Advisory: Warning on Unregistered Crypto Platforms Targeting Filipinos (August 2025) : Sec.gov.ph

Why the Platforms Were Blocked: Lack of Proper Registration

According to the SEC, these platforms failed to secure the necessary licenses to operate legally in the country, despite offering crypto trading and investment services to Filipino users. The commission emphasized that the action aims to protect investors from risks associated with unregulated digital asset platforms.

List of Affected Exchanges

Blocked Exchanges

How the Block Was Enforced

The SEC formally requested local ISPs to restrict access to the websites and apps of these crypto exchanges. PLDT and Globe—two of the country’s biggest telecom providers—were among the first to comply with the order and implement widespread blocks.

Community Reactions

The crackdown sparked concern among Filipino crypto users, many of whom worry that the blocks could limit financial access and innovation. Some have also questioned the government’s long-term stance on digital assets. The SEC clarified that it is not banning cryptocurrencies, but rather ensuring all platforms comply with local laws and investor protection rules.