The Bangko Sentral ng Pilipinas said Friday it has indefinitely extended a moratorium on new licenses for virtual asset service providers (VASPs) to protect consumers and maintain financial stability.
It said in a statement the move considers the heightened risks associated with virtual assets such as cryptocurrencies.
The BSP said it would periodically review the moratorium as it strengthens its monitoring, surveillance, and enforcement capabilities to address emerging risks in the virtual asset landscape.
The BSP said it remains committed to strengthening the country’s anti-money laundering, counter-terrorism financing, and counter-proliferation financing frameworks.
This includes closely monitoring VASPs to ensure full compliance with regulations and international standards.
The Philippines was removed from the Financial Action Task Force’s “grey list” in February 2025.
