The Philippine Government has Started Blocking Unlicensed Cryptocurrency Exchange Websites

The National Telecommunications Commission (NTC) of the Philippines has begun blocking cryptocurrency company websites that offer investment products without necessary permits in the country. Websites of cryptocurrency companies MiTrade and OctaFX are currently inaccessible in the Philippines. NTC issued orders to internet service providers on February 21 to block MiTrade's applications and website as it violated regulations of the Philippine Securities and Exchange Commission (SEC). Commissioner Kelvin Lee of the Philippine Securities and Exchange Commission stated that the ban on Binance, which was issued three months after November 29 last year, was supposed to take effect on February 29. However, the Binance exchange remains accessible in the country.