Binance and Bitget Restrictions in Philippines: What You Need to Know in 2025

19 February 2025

Since March 2024, Binance has been completely blocked in the Philippines. The country’s Securities and Exchange Commission (SEC) ordered internet service providers to cut off access to the platform after determining it was operating without a license. By May 2025, the rules got even stricter. The SEC introduced new regulations that apply to every crypto exchange serving Filipino users - including Bitget, even if it hasn’t been named yet in official enforcement notices.

Why Binance Was Blocked

The Philippines SEC didn’t act overnight. It started warning Binance in November 2023 that it wasn’t registered to operate in the country. Binance kept running its platform, running ads on social media, and even paying local influencers to promote trading. The SEC saw this as a direct threat to ordinary Filipinos who were depositing money into an unregulated system with no legal protection.

By March 2024, the SEC teamed up with the National Telecommunication Commission (NTC) to block Binance’s website and app. Users trying to log in saw error messages. No warnings. No grace period. Just a hard stop. The SEC made it clear: if you’re not licensed to operate here, you’re not welcome.

The New Rules: CASP Framework

In May 2025, the SEC dropped its biggest move yet: Crypto Asset Service Provider (CASP) regulations. These rules don’t just target Binance - they target every foreign exchange serving Filipinos. To legally operate, any crypto platform must:

• Be registered as a domestic corporation in the Philippines
• Hold at least 100 million pesos (around $1.8 million USD) in capital
• Have a physical office inside the country
• Submit monthly financial reports to the SEC
• Keep customer funds completely separate from company money

These rules were designed to prevent another FTX-style collapse. If a company goes under, users’ funds should still be safe. The penalties for breaking these rules are severe: fines from 50,000 to 10 million pesos per violation, plus 10,000 pesos per day for ongoing breaches.

Is Bitget Blocked Too?

Bitget isn’t officially named in the August 2025 SEC advisory that listed OKX, Bybit, KuCoin, and Kraken. But that doesn’t mean it’s safe. The CASP rules apply to all exchanges serving Philippine users - no exceptions. If Bitget hasn’t registered, it’s operating illegally. The SEC has made it clear they’re not going after one exchange at a time. They’re going after the entire unlicensed market.

The pattern is obvious: first Binance, then the big names, then everyone else. Bitget has the same structure as the others - no local office, no Philippine registration, no financial reporting. Unless it changes that, it’s just a matter of time before access is cut off.

What About VPNs?

Many Filipinos are using Virtual Private Networks (VPNs) to bypass the blocks. They connect to servers in Singapore, Japan, or the U.S. and access Binance or Bitget like nothing happened. VPN companies are even running ads in the Philippines promising “unrestricted crypto trading.”

But here’s the problem: the SEC says using a VPN to access banned platforms could make you legally liable. If you’re actively trading on an unregistered exchange, you’re participating in an illegal activity. The SEC has warned that anyone promoting these platforms - even as a social media influencer - can face criminal charges.

Using a VPN doesn’t make you safe. It just hides your IP address. The SEC still knows the platform you’re using. And if they decide to go after users, they can trace transactions through local bank transfers or e-wallets.

What Are Your Legal Options?

There are only two legal paths:

1. Use a licensed Philippine-based exchange
2. Wait for a foreign exchange to register under CASP rules

Right now, only a handful of local platforms are licensed. Examples include Coins.ph, PDAX, and Binance’s own Philippine subsidiary - but only if it’s registered under local law. Binance’s global site is still banned. Even if you see “Binance PH” on your phone, it’s not the same as the global platform. It’s a separate, regulated entity.

No foreign exchange has yet met the CASP requirements. Not Binance. Not Bitget. Not OKX. None of them have opened offices in Manila, deposited 100 million pesos, or started submitting monthly reports. Until they do, they’re not legal.

Why This Matters for Regular Users

The Philippines has one of the highest crypto adoption rates in Southeast Asia. Millions of people use exchanges to save money, send remittances, or invest spare cash. But when platforms are unregulated, users have no recourse if things go wrong.

In 2022, a local crypto platform collapsed. Thousands lost their money. No one was held accountable. The SEC’s new rules are meant to stop that from happening again. If you’re using a licensed exchange, your funds are protected. If you’re using a banned one, you’re on your own.

The crackdown isn’t about stopping crypto. It’s about making it safe. The SEC isn’t banning technology - it’s banning recklessness.

Regional Trends: It’s Not Just the Philippines

Thailand blocked five major exchanges in May 2025. Indonesia raised taxes on offshore crypto trades to 1%. Singapore is tightening AML rules. All of Southeast Asia is moving toward the same goal: bring crypto under control.

Binance isn’t just banned in the Philippines. It’s blocked in the U.S., the U.K., Canada, the Netherlands, Nigeria, and Belgium. It’s been fined billions by U.S. regulators for money laundering violations. This isn’t a local problem - it’s a global reckoning.

What Happens Next?

The SEC has signaled it’s not done. The August 2025 advisory was just the beginning. More names will appear on the list. More websites will be blocked. More users will be warned.

If you’re still using Binance or Bitget through a VPN, you’re taking a risk. The SEC has shown it’s willing to go after promoters, influencers, and even traders. The fines are huge. The legal exposure is real.

The only safe path forward is to move to a licensed platform. If you’re holding crypto on a banned exchange, withdraw it now. Transfer it to a registered local exchange or a personal wallet. Don’t wait for a block to hit. Don’t assume you’ll get a warning.

The rules are clear. The penalties are real. The clock is ticking.