Coinbase Faces Regulatory ISP Blocks in Philippines
- Coinbase access blocked under new NTC directive.
- Users must try alternative networks.
- Affects all assets on Coinbase in the country.
Coinbase access problems in the Philippines stem from ISP blocks enforced by the NTC following BSP’s directive targeting unlicensed VASPs. Users are advised to switch networks or access services abroad to manage assets like BTC and ETH.
The event highlights increasing regulatory actions on unlicensed crypto exchanges, signaling stricter controls on virtual asset service providers, impacting Coinbase users’ access in the Philippines.
Coinbase Faces Challenges in the Philippines
Coinbase has encountered ISP-level access blocks in the Philippines following a directive from the National Telecommunications Commission. This action, requested by the Bangko Sentral ng Pilipinas, targets unlicensed virtual asset service providers.
Involved parties include Coinbase, major Philippine ISPs like PLDT, Globe Telecom, and DITO, alongside both the NTC and BSP. Users are advised to switch to alternative networks or access services while abroad.
Access issues impact Coinbase users’ ability to trade and withdraw digital assets. The directive emphasizes regulatory compliance, pushing users towards BSP-licensed platforms such as PDAX and Coins.ph.
Global crypto platforms face increasing pressures due to regulatory measures from Philippine authorities. This underscores the shifting landscape and the need for exchanges to comply with local licensing requirements across jurisdictions.
Following in the footsteps of previous actions like the 2024 Binance block, the current Coinbase incident illustrates the broader regulatory trend seeking to moderate crypto market activities. Adaptation to such regulations becomes critical for market players navigating compliance.
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