Regulatory Alerts2025-08-29
M-2025-031: Continued Enforcement of the Moratorium on the Issuance of New Licenses for VASP
The Bangko Sentral ng Pilipinas issued Memorandum No. M-2025-031 to enforce the continued moratorium on issuing new Virtual Asset Service Provider licenses starting September 1, 2025. This decision follows Monetary Board Resolution No. 848, which cites ongoing concerns regarding consumer protection and rising cybercrime issues despite technological advancements. The moratorium remains in effect pending reassessment based on global and local regulatory developments.
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