UPDATE (July 22, 2015) Our own Bill Murphy has confirmed that the region locked dropped late last week has been reinstated on SEA versions of Phantasy Star Online 2. Sorry to say, this means that playing on these servers means using a VPN.
MMOsite.com is reporting that the region lock has reportedly (and inexplicably) been removed from the SEA version of Phantasy Star Online 2. Players can now access the game without the use of a VPN.
Check out the Phantasy Star Online 2 site for more.