The Philippines' National Telecommunications Commission (NTC) has started blocking the websites of crypto companies that offer investment products in the country without proper licenses, local publication Bitpinas has reported.
The NTC's move comes after the country's SEC requested the blocking of unlicensed crypto platforms to prevent investment scams in the Philippines.
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In a statement, SEC Chairman Emilio Aquino expressed the NTC's support is crucial in its efforts to combat fraudulent financial schemes and protect investors.
Despite the NTC's actions, Binance remains accessible in the country, as the SEC has not clarified when it will proceed with its planned ban on the platform, announced in November 2023.