NTC orders ISPs to block unregistered online trading platforms on BSP request

The National Telecommunications Commission (NTC) has ordered internet service providers (ISPs) to immediately block access to dozens of unregistered online trading and virtual asset platforms, clarifying that the move was made at the request of the Bangko Sentral ng Pilipinas (BSP) and in line with existing financial regulations.

In a statement, the NTC said it issued a memorandum directing all ISPs to disable access to 50 online entities identified by the BSP as unlicensed or unregistered Virtual Asset Service Providers (VASPs) operating in the Philippines without proper authorization.

The directive was issued in response to concerns raised in a Bilyonaro.com article dated Dec. 21, 2025, titled “No warning: Filipino investors rage after telcos block access to global trading platform Interactive Brokers on National Telecommunications/SEC order.”

The NTC stressed that the takedown order was not arbitrary but was carried out in support of the BSP’s supervisory and enforcement mandate.

According to the NTC, the BSP formally requested the removal of the listed platforms from the Philippine digital space after determining that they were engaging in prohibited activities under Section 902-N of the Manual of Regulations for Non-Bank Financial Institutions. The provision was amended by BSP Circular No. 1206, Series of 2024, which lays down updated guidelines governing VASPs.

The NTC said its authority to issue the takedown directive is exercised in aid of relevant government regulatory and enforcement agencies to prevent the continued operation of unregistered entities and to protect the public from unauthorized virtual asset activities.

The BSP, for its part, exercises regulatory and supervisory powers under Section 3 of Republic Act No. 7653, or the New Central Bank Act, as amended by Republic Act No. 11211. The law grants the central bank authority over money service businesses, including VASPs, and empowers it to authorize entities or individuals seeking to operate such services in the country.

Regulators reiterated that only BSP-authorized platforms are allowed to offer virtual asset and related financial services in the Philippines, warning investors to exercise caution when dealing with online trading platforms that lack proper registration and approval.

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