At the end of 2022, the Philippine authorities urged citizens not to use the services of bitcoin exchanges that are not registered in the country.
The press service of the Securities and Exchange Commission (SEC) emphasized that the activities of such trading platforms are not regulated in any way by the country’s supervisory authorities.
This week, the National Telecommunications Commission (NTC) began blocking access to the websites of some cryptocurrency companies that provide services for buying and selling digital currencies.
On March 7, local media reported that users complained that they could not access the websites of MiTrade and OctaFX platforms. The NTC demanded that Internet service providers restrict access to services for cryptocurrency transactions.
SEC Chairman Emilio Aquino commented on the blocking of the sites of exchanges. According to him, the NTC’s actions protect the citizens of the Philippines from fraudsters and criminal organizations that use such trading platforms to defraud investors and launder mon