Regulatory Alerts2026-01-30
Reminders on Sound Risk Management Practices when Dealing with Virtual Asset Service Providers (VASPs)
The Bangko Sentral ng Pilipinas mandates that all supervised financial institutions strictly limit their dealings with licensed Virtual Asset Service Providers and Crypto Asset Service Providers. Institutions are required to conduct comprehensive risk assessments and enhanced due diligence, including verifying regulatory registration and scanning for adverse media, before establishing business relationships. Furthermore, BSFIs must implement continuous transaction monitoring and adopt robust risk mitigation measures to ensure ongoing compliance with anti-money laundering and counter-terrorist financing obligations.
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