Philippines blocks Coinbase and Gemini sites over unlicensed operations
The Philippines has blocked access to the websites of crypto exchanges Coinbase and Gemini as part of intensified measures against unlicensed virtual asset service providers. This marks a significant regulatory step to safeguard the country’s crypto users from potential risks.
Source Сointelegraph
The move is part of a broader effort by Philippine regulators to enforce virtual asset laws and ensure transparency in financial transactions. Only licensed virtual asset service providers are now permitted to operate in the market.
This action signals to other market participants the importance of obtaining appropriate licenses and complying with local regulations. It is expected that regulators will continue to monitor crypto platforms closely in the future.
