Philippines Central Bank Restricts VASPs From Listing Privacy Coins

The Bangko Sentral ng Pilipinas (BSP) has issued new directives prohibiting virtual asset service providers (VASPs) from listing or supporting cryptocurrencies designed to enhance user anonymity or privacy.

Alongside this restriction, the central bank has also required VASPs to strengthen their token governance practices. This includes more rigorous standards for listing and ongoing monitoring of digital assets, as well as clearly defined conditions that would trigger the delisting of tokens that no longer meet compliance requirements.

Source: The Philippine Star