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

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.

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.

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.