logo

ChainThink

Stay ahead, master crypto insights

The Philippines blocks access to ten overseas cryptocurrency trading platforms

The Philippines blocks access to ten overseas cryptocurrency trading platforms

2025-08-06 21:14

ChainThink reports: According to Decrypt, the Philippine Securities and Exchange Commission (SEC) took action today by cutting off access to ten foreign cryptocurrency trading platforms through major internet service providers. These platforms include OKX, MEXC, Bybit, KuCoin, Bitget, Kraken, CoinEx, Phemex, BitMart, and Poloniex. Previously, Philippine regulators warned that cryptocurrency platforms providing services to residents in the Philippines without proper licensing and registration violated local regulations. According to the new rules effective in June, cryptocurrency asset service providers must register as local companies in the Philippines and maintain a minimum paid-up capital of at least 180 million USD.

Disclaimer: Contains third-party opinions, does not constitute financial advice

Recommended Reading
Institution: The U.S. labor market remains fragile, with a 40% probability of entering an economic recession
Institution: The U.S. labor market remains fragile, with a 40% probability of entering an economic recession
Fed's Daly: The Fed Should Focus on Unemployment Rate Rather Than Employment Data
Fed's Daly: The Fed Should Focus on Unemployment Rate Rather Than Employment Data
Israel cancels planned attack on Iran to avoid disrupting rescue operations
Israel cancels planned attack on Iran to avoid disrupting rescue operations
A U.S. military fighter crew member who was shot down in Iran has been "rescued"
A U.S. military fighter crew member who was shot down in Iran has been "rescued"
How to Make Money on Polymarket Using AI?
How to Make Money on Polymarket Using AI?
The U.S. doubles the insurance coverage for the Strait of Hormuz to $40 billion
The U.S. doubles the insurance coverage for the Strait of Hormuz to $40 billion
$136 million worth of positions liquidated across the entire network in the past 24 hours, with both longs and shorts wiped out
$136 million worth of positions liquidated across the entire network in the past 24 hours, with both longs and shorts wiped out