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Philippines Cuts Off Access to Ten Overseas Cryptocurrency Exchanges

Summary: According to Decrypt, the Philippine Securities and Exchange Commission (SEC) took action today by instructing major internet service providers to cut off access to ten overseas cryptocurrency exchanges, including OKX, MEXC, Bybit, KuCoin, Bitget, Kraken, CoinEx, Phemex, BitMart, and Poloniex. Earlier, Philippine regulators warned that cryptocurrency platforms were providing services to Philippine residents without proper ...

According to Decrypt, the Philippine Securities and Exchange Commission (SEC) took action today by instructing major internet service providers to cut off access to ten overseas cryptocurrency exchanges, including OKX, MEXC, Bybit, KuCoin, Bitget, Kraken, CoinEx, Phemex, BitMart, and Poloniex. Earlier, Philippine regulators warned that cryptocurrency platforms were providing services to Philippine residents without proper licensing and registration, violating local regulations. Under new regulations that took effect in June, cryptocurrency service providers must register as local companies in the Philippines and hold a minimum paid-up capital of at least $180 million.

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