The Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, has banned virtual asset service providers from listing privacy coins and ordered them to tighten how they screen, monitor, and remove the tokens offered to customers.
In a memorandum, the central bank said anonymity-enhancing virtual assets, tokens designed to obscure transaction details, are prohibited from being listed or supported by VASPs operating in the country, according to a recent report from The Philippine Star.
The ban comes as part of a broader overhaul of listing standards. BSP Deputy Governor Lyn Javier said providers must build a “robust due diligence and accreditation process” before adding any coin or token to their platforms.
Under the guidelines, VASPs must assess each asset against six pillars, including the issuer’s background, market maturity, use cases, transparency and security, redemption and reserves, and legal and compliance risks, per the report.
🇵🇭 The Philippines is tightening crypto regulations.
The central bank has banned privacy coins for licensed crypto providers and introduced stricter listing requirements aimed at strengthening AML compliance, combating terrorist financing, and improving market transparency.… pic.twitter.com/Y6DbcXgyVL
— 3.0 TV (3verseTV) (@reallive3tv) June 15, 2026
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment