In a sweeping move to tighten control over the country’s digital asset ecosystem, the Philippines Securities and Exchange Commission (SEC) has directed major telecom providers to block access to a list of ten unregistered cryptocurrency exchanges. This enforcement action follows the implementation of SEC Memorandum Circulars No. 4 and No. 5, which took effect on July 5, 2025. These circulars establish strict requirements for Virtual Asset Service Providers (VASPs), including the need to register with the SEC before operating or offering services to Philippine residents. On August 1, 2025, the SEC issued a public ... (full story)