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

Robert Colt Nov, 23 2025

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When the Philippines blocked Binance in March 2024, thousands of traders didn’t just lose access to a platform-they lost their primary way to trade crypto. Now, with new rules in place and enforcement tightening, the same fate could come for Bitget and other major exchanges. This isn’t just about a website being down. It’s about legal risk, financial exposure, and what happens next if you’re still trading on these platforms.

Why Binance Got Blocked in the Philippines

Binance wasn’t quietly ignored. The Philippines Securities and Exchange Commission (SEC) issued a formal warning in November 2023, saying the exchange was operating illegally. No license. No registration. No oversight. Just a global platform serving Filipino users without any local compliance. By March 2024, the SEC, working with the National Telecommunication Commission (NTC), started blocking Binance’s website and app. The message was clear: if you want to operate here, you follow our rules-or you’re out.

The SEC didn’t just shut it down overnight. They gave users 90 days to withdraw funds. That’s unusual. Most countries just cut access. But the Philippines wanted to minimize harm to retail traders. Still, after those 90 days, the site stayed blocked. Even today, Binance’s domain is inaccessible from local ISPs. And the SEC has kept warning the public: “Binance is still promoting itself on social media. People promoting it can be criminally liable.”

The New Rules: CASP Framework Takes Effect

The real turning point came in May 2025, when the SEC rolled out Memorandum Circular No. 4 and No. 5-the country’s first full Crypto Asset Service Provider (CASP) framework. These rules didn’t just target Binance. They targeted every crypto exchange serving Filipinos.

Under the new rules, any exchange wanting to operate legally in the Philippines must:

  • Be registered as a domestic corporation
  • Have at least ₱100 million (about $1.8 million USD) in capital
  • Have a physical office inside the Philippines
  • Submit monthly financial reports
  • Keep customer funds completely separate from company funds
These aren’t suggestions. They’re legal requirements. Violations carry penalties of ₱50,000 to ₱10 million per offense, plus ₱10,000 per day for ongoing violations. That’s serious money. And it’s not just about fines. The SEC can shut down operations, freeze assets, and pursue criminal charges against anyone promoting unregistered platforms.

Is Bitget Also Restricted?

Bitget isn’t named in the August 2025 SEC advisory that listed OKX, Bybit, KuCoin, and Kraken as unlicensed operators. But that doesn’t mean it’s safe. The CASP rules apply universally. If Bitget is serving Philippine customers without registering, it’s breaking the law. There’s no loophole. No exception. The SEC’s enforcement strategy is clear: target the biggest players first, then expand.

Binance was the first. Now, the SEC is moving down the list. Bitget, with its heavy marketing in Southeast Asia and large Filipino user base, is a logical next target. The fact that it hasn’t been named yet doesn’t mean it’s exempt. It means the enforcement hasn’t reached it yet. If you’re still using Bitget in the Philippines, you’re using an unregistered service. That puts you at risk-not just financially, but legally.

Shadowy figure distributing unlicensed crypto promo flyers while SEC agents watch from above, with licensed exchanges glowing in the distance.

What Happens If You Keep Using Binance or Bitget?

Some users think, “I can just use a VPN.” And yes, many do. VPN providers are even advertising services like “Access Binance in Philippines” with promises of “high encryption” and “no blocks.” But here’s the problem: the SEC doesn’t just go after exchanges. They go after promoters.

That includes:

  • Influencers who post affiliate links
  • Group admins who share login tips
  • Friends who tell you how to bypass the block
If you’re actively helping someone access Binance or Bitget, you could be seen as an “enabler.” And under the new rules, that’s a criminal offense. Even if you’re not running the exchange, you’re facilitating illegal activity.

Plus, there’s no protection if things go wrong. If Bitget freezes your funds, gets hacked, or disappears, you have no recourse. No regulator to file a complaint with. No legal path to recover losses. That’s the risk of using unregistered platforms.

What Are the Alternatives?

There are licensed crypto platforms operating in the Philippines. They’re smaller. They’re slower. But they’re legal. These include:

  • Paxful (licensed as a CASP)
  • Coins.ph (licensed, offers crypto trading and wallet services)
  • PDAX (Philippine Digital Asset Exchange, fully regulated)
These platforms don’t offer the same depth of trading pairs or low fees as Binance. But they offer something more valuable: legal protection. Your funds are segregated. They report to the SEC. If something goes wrong, you have a path to complain. That’s not nothing.

If you’re a heavy trader, you might miss the liquidity. But if you’re holding crypto long-term or doing small trades, these alternatives work fine. And they’re getting better. PDAX just added more tokens in October 2025. Coins.ph now supports staking. The market is adapting.

Hero in PDAX suit rescuing a wallet from burning Bitget server, shield reading 'SEC Licensed' behind them as citizens watch.

Regional Context: This Isn’t Just the Philippines

The Philippines isn’t alone. Thailand blocked five major exchanges in May 2025. Indonesia raised taxes on offshore crypto trades from 0.2% to 1%. Singapore tightened licensing rules. Malaysia is cracking down on unlicensed platforms.

This is a regional shift. Governments are tired of crypto exchanges operating like ghost companies-taking money from locals, paying no taxes, and vanishing when things go south. The Philippines is leading the charge in Southeast Asia with the strictest rules. But others are catching up fast.

Binance’s global troubles mirror this trend. It’s banned in the U.S., fined in the Netherlands, and had executives detained in Nigeria. It’s been fined $4.3 billion by the U.S. Treasury. This isn’t a local problem. It’s a global reckoning.

What Should You Do Now?

If you’re still using Binance or Bitget in the Philippines, here’s what you need to do:

  1. Stop promoting it. Don’t share links. Don’t post on social media. Don’t recruit others. You could be held criminally liable.
  2. Withdraw your funds. If you haven’t already, move your crypto to a licensed platform or a personal wallet. Don’t wait for a block.
  3. Switch to a licensed exchange. Use PDAX, Coins.ph, or Paxful. They’re safe, legal, and growing.
  4. Don’t use VPNs to bypass blocks. It doesn’t make you safe. It makes you a target.
  5. Stay informed. The SEC updates its advisories regularly. Check their website monthly.
The crypto market in the Philippines is changing. The wild west days are over. The regulators are in charge now. The question isn’t whether Binance or Bitget will be restricted-it’s whether you’re ready to play by the new rules.

Is Binance completely banned in the Philippines?

Yes. Binance’s website and app have been blocked by the Philippine government since March 2024. Access is restricted by local internet providers, and the SEC has repeatedly warned the public not to use it. The platform remains inaccessible without using a VPN, but doing so carries legal risks.

Is Bitget banned in the Philippines too?

Bitget is not officially named in the SEC’s August 2025 enforcement list, but it is not legally allowed to operate in the Philippines. Under the new CASP framework, all exchanges serving Filipino users must register. Bitget has not done so, meaning it is operating illegally. Enforcement against it is likely, following the pattern set with Binance and other exchanges.

Can I use a VPN to access Binance or Bitget?

Technically, yes-but legally, it’s risky. While using a VPN to bypass blocks is common, the SEC considers promoting or enabling access to unregistered exchanges a criminal act. If you’re actively helping others use these platforms through a VPN, you could face legal consequences. It’s not a safe workaround.

What happens if I don’t withdraw my crypto from Binance or Bitget?

Your funds could be locked or lost with no recourse. Unregistered exchanges have no legal obligation to protect your assets. If the platform is shut down, hacked, or collapses, you won’t be able to recover your money. There’s no regulator to file a claim with. The SEC explicitly warns users to withdraw funds from unlicensed platforms immediately.

Are there any legal crypto exchanges in the Philippines?

Yes. Licensed platforms include PDAX, Coins.ph, and Paxful. These are registered with the SEC, follow strict financial reporting rules, and keep customer funds separate. They offer fewer trading pairs and higher fees than Binance, but they’re legal and safe. Using them protects you from regulatory and financial risk.

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13 Comments

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    Anne Jackson

    November 24, 2025 AT 18:21
    This is why America needs to stop letting foreign governments dictate our financial freedom. If the Philippines wants to be a backwater with outdated regulations, fine. But don't act like they're the moral high ground. Crypto is freedom, and these bureaucrats are just scared of it.
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    John Borwick

    November 24, 2025 AT 20:38
    I get why the SEC is doing this. A lot of people got burned by shady exchanges. But banning everything doesn't protect them-it just pushes them underground. Maybe if we had better education instead of blocks, people wouldn't fall for scams in the first place
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    Jennifer Morton-Riggs

    November 25, 2025 AT 11:31
    You know what's funny? People act like the SEC is some kind of villain but they're literally the only thing standing between you and a rug pull that takes your life savings. You think you're being rebellious using a VPN? Nah you're just the mark they warned you about
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    Soham Kulkarni

    November 27, 2025 AT 01:46
    in india we have same problem. govt says crypto illegal but everyone still uses binance. its like trying to stop water with a sieve. better to regulate than ban
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    Dave Sorrell

    November 28, 2025 AT 16:42
    The CASP framework is a necessary step. Exchanges must be held to the same standards as any financial institution. Customer funds must be segregated. Reporting must be transparent. This isn't about stopping innovation-it's about ensuring accountability.
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    Sky Sky Report blog

    November 30, 2025 AT 00:30
    I understand the fear people have about losing access to their assets but the reality is unregulated platforms offer zero protection. If your money disappears you have no recourse. That's not a bug it's a feature of the system
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    stuart white

    December 1, 2025 AT 00:22
    Let me be real for a second. You think the SEC is the enemy? Nah. The real enemy is the influencer who sold you a 100x meme coin while sipping champagne in Bali. These platforms aren't just unlicensed-they're predatory. And you're the product
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    David Hardy

    December 2, 2025 AT 20:57
    I switched to PDAX last month. Yeah the UI is clunky and fees are higher but at least I can sleep at night 😌 no more nightmares about my funds vanishing. Small trade? Fine. Long term hold? Perfect. Legal and safe beats risky and flashy any day
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    Gus Mitchener

    December 3, 2025 AT 03:07
    The underlying epistemological crisis here isn't regulatory-it's ontological. Crypto was born from a rejection of centralized authority. Now we're institutionalizing the very structures it sought to dismantle. Is this progress or surrender?
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    Tejas Kansara

    December 3, 2025 AT 03:33
    VPN = bad idea. Not because it's hard to use but because you're playing with fire. One day you get flagged and suddenly you're on a watchlist. Not worth it
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    Jody Veitch

    December 3, 2025 AT 17:39
    You people act like the Philippines is being oppressive. Let me remind you: Binance didn't pay taxes. Didn't hire locals. Didn't comply with AML. And now you're mad because they're being held accountable? You're not a victim-you're an enabler.
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    Linda English

    December 5, 2025 AT 11:18
    I know it's hard to let go of the big platforms, especially when you've been using them for years, and I understand how scary it feels to switch to something smaller, slower, less flashy-but please, just think about the people who don't know any better, the ones who might not even realize they're risking everything, and imagine if someone had gently guided them to safety before it was too late, that's what this is about-not punishment, but protection, and maybe, just maybe, a little compassion
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    asher malik

    December 7, 2025 AT 07:15
    The irony is thick here. We built this whole decentralized dream on the idea of no borders no rules no authority and now we're begging governments to let us play by their rules because we're scared of the consequences of our own freedom. So which is it? Are we rebels or refugees?

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