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Manila Bulletin devider Business devider Trade & Industry devider 50 unlicensed trading platforms blocked by NTC following BSP order

50 unlicensed trading platforms blocked by NTC following BSP order

Published Dec 22, 2025 04:53 pm
The National Telecommunications Commission (NTC) ordered internet service providers to immediately block access to 50 online trading platforms operating without authorization from the central bank amid crackdown on unregulated financial services.
In a statement, the NTC said its directive follows a formal request from the Bangko Sentral ng Pilipinas (BSP) to disable the applications and websites of unlicensed Virtual Asset Service Providers.
It added that the move is part of a broader effort by the BSP to enforce registration requirements for entities dealing in digital assets and money services.
The NTC cited Section 902-N of the Manual of Regulations for Non-bank Financial Institutions, recently updated by BSP Circular No. 1206. The regulatory framework governs how virtual asset providers must operate within the local jurisdiction to ensure consumer protection and financial stability.
The move also comes as the government seeks to strengthen its oversight of the digital economy. The BSP has maintained supervisory authority over money service businesses under the New Central Bank Act, which empowers it to authorize any individual or entity engaging in money and virtual asset services.
By removing access to these sites, the commission said it aims to prevent the continued operation of unregistered platforms that expose the public to financial risks.
While the NTC did not release a full list of the affected platforms in its primary statement, the agency noted that the takedown is an exercise of its authority in coordination with regulatory and enforcement bodies.
The commission issued the clarification following public scrutiny over the recent blocking of a major global online trading platform, suggesting that more international entities may be affected by the tightening rules.
The regulator reiterated that the government seeks to mitigate risks associated with unauthorized financial transactions and unregulated exchanges.
All financial service providers must adhere to the central bank's registration requirements to operate legally in the country.
The NTC said it will continue to monitor compliance and act on requests from the BSP to safeguard Filipino users against illicit activities in the burgeoning virtual asset space.

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National Telecommunications Commission Bangko Sentral ng Pilipinas (BSP)
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