Philippines Blocks Coinbase, Gemini Access; BTC Trading Faces Potential Disruptions

• Philippine ISPs block Coinbase and Gemini: NTC directive enforces BSP regulations on unlicensed VASPs.

• NTC ordered action against approximately 50 platforms operating without licenses under BSP Circular No. 1206.

• Users lose direct access to BTC and ETH trading on these exchanges; local compliant platforms like XTexchange emerge as alternatives, per BSP data.

Philippine ISPs block Coinbase and Gemini on NTC order from BSP—learn impacts on BTC, ETH trading, regulatory reasons, and local alternatives. Stay compliant and secure your crypto access today!

What prompted Philippine ISPs to block Coinbase and Gemini?

Philippine ISPs blocked Coinbase and Gemini starting December 24, 2025, under a directive from the National Telecommunications Commission (NTC) requested by the Bangko Sentral ng Pilipinas (BSP). This targets unlicensed Virtual Asset Service Providers (VASPs) non-compliant with BSP Circular No. 1206, aiming to safeguard consumers and ensure a regulated financial environment. As the BSP states, “Our goal is to establish a secure financial environment by regulating Virtual Asset Service Providers and ensuring compliance.”

Which platforms and assets are affected by the NTC’s blocking order?

The NTC’s directive impacts around 50 unlicensed platforms, prominently including major exchanges like Coinbase and Gemini. Users in the Philippines can no longer access these sites directly via local ISPs, affecting trading of key digital assets such as Bitcoin (BTC) and Ethereum (ETH). Local compliant exchanges remain operational, with platforms like XTexchange reporting increased user interest as alternatives. This enforcement aligns with BSP’s oversight to mitigate risks from unregulated operations, drawing from precedents like the 2024 Binance restrictions. Data from BSP indicates that over 90% of targeted entities failed to secure necessary VASP registrations, underscoring the scale of non-compliance.

Frequently Asked Questions

Why did the Bangko Sentral ng Pilipinas request the NTC to block unlicensed crypto exchanges like Coinbase and Gemini?

The BSP requested the NTC action to enforce compliance with national regulations, specifically BSP Circular No. 1206 on VASPs. Unlicensed platforms pose risks to consumers, including fraud and money laundering vulnerabilities. This move prioritizes investor protection and promotes registered local providers for secure trading of assets like BTC and ETH.

How will the blocking of Coinbase and Gemini affect crypto users in the Philippines?

Philippine users lose direct web access to Coinbase and Gemini but can turn to VPNs or BSP-approved local exchanges like those holding VASP licenses. Trading BTC and ETH continues seamlessly on compliant platforms, with BSP encouraging registration to maintain market access without disruptions. This shift boosts local liquidity and regulatory adherence.

Key Takeaways

• Regulatory Enforcement: NTC’s block on 50 unlicensed VASPs, led by BSP, enforces Circular No. 1206 for consumer safety.
• Access Impacts: Direct trading of BTC and ETH on Coinbase and Gemini restricted; local options like XTexchange gain traction.
• Future Compliance: Exchanges must register with BSP to operate legally, signaling sustained oversight in the Philippines.

Conclusion

The NTC’s directive for Philippine ISPs to block Coinbase and Gemini underscores the BSP’s commitment to regulating unlicensed VASPs amid rising crypto adoption. By targeting non-compliant platforms, authorities protect users trading BTC, ETH, and other assets while fostering compliant alternatives. As the regulatory landscape evolves, staying informed and using licensed exchanges ensures secure participation—monitor BSP updates for ongoing developments in the Philippine crypto market.

The regulatory crackdown follows a pattern seen in the 2024 Binance restrictions, where similar measures prompted platforms to pursue local licensing or exit the market. Financial analysts note that such actions enhance market integrity without halting overall digital asset growth, as evidenced by BSP’s registration of over 20 VASPs since 2023. This environment encourages innovation within boundaries, with local exchanges investing in advanced security and compliance infrastructure.

Consumer impacts extend beyond access; traders must now verify platform licensing via BSP’s public registry, reducing exposure to unlicensed risks. Business implications for global exchanges like Coinbase and Gemini include potential revenue shifts from the Philippine market, valued at millions in annual trading volume. Meanwhile, BSP’s proactive stance positions the Philippines as a leader in Southeast Asian crypto regulation.

Experts from the financial sector emphasize adaptation: “Regulatory clarity drives long-term trust,” states a BSP official in recent communications. Users adapting to local platforms benefit from faster fiat on-ramps and tailored services. Political backing for these measures reflects national priorities on financial stability amid global crypto volatility.