The National Telecommunications Commission (NTC) of the Philippines has started the process of disrupting access to some crypto trading platforms that are working without necessary licenses. This move, which was triggered by the call by the Securities and Exchange Commission (SEC), is a manifestation of the state’s dedication to protecting investors and quelling illicit financial crimes inside the nation.
While a wide range of regulatory measures are utilized against unlicensed entities, Binance, one of the world’s leading cryptocurrency exchanges, remains accessible in the Philippines, posing a question about how effective the regulation is.
Philippines Firms its Control Over Crypto Market Regulation
The first move was the NTC’s order to the internet service providers on 21st February to take action, concentrating on the prompt blocking of websites and apps that are connected with MiTrade and OctaFX. This move ensued after accusations that these companies conducted investment ac
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