The Philippine authorities have blocked access to the MiTrade and OctaFX crypto exchanges

The NTC explains the blocking by the fact that the trading platforms have not issued national licenses. At the end of February, representatives of the commission appealed to providers to suspend access to exchanges for violating the rules approved by the SEC. Now the lockdown has started.

The head of the SEC, Emilio Aquino, assured that the actions of the NTC will help prevent fraudulent actions with investors' funds. According to him, regulators will take similar actions with regard to platforms that facilitate the receipt of investments through fraudulent financial schemes.

So far, the restrictions on work have not affected the largest cryptocurrency exchange in the world, Binance. At the end of December 2023, the SEC notified that the decree banning Binance would take effect three months after the publication of the document, which took place in November. Binance's work could have been blocked as early as February 29, but so far the site is available to local investors.

Source: https://bits.media/vlasti-filippin-zablokirovali-dostup-k-kriptobirzham-mitrade-i-octafx/