Regulatory Alerts2025-01-03
Cancellation of Registration of ETRANSS REMITTANCE INTERNATIONAL CORP.
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2025-001 to announce the cancellation of ETRANSS REMITTANCE INTERNATIONAL CORP.'s registration. This action follows Monetary Board Resolution No. 1148 dated 03 October 2024, which revoked the entity's Certificate of Registration to operate as a Remittance and Transfer Company with Virtual Currency Exchange services. The cancellation was executed pursuant to Section 902-N of the Manual of Regulations for Non-Bank Financial Institutions as amended by BSP Circular No. 1108.
OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2025-___ To : ALL BSP-SUPERVISED FINANCIAL INSTITUTIONS (BSFls) Subject : Cancellation of Registration of ETRANSS REMITTANCE INTERNATIONAL CORP. (ETRANSS)
The Monetary Board, in its Resolution No. 1148 dated 03 October 2024, approved the cancellation of ETRANSS’ Certificate of Registration to operate as Remittance and Transfer Company with a Type “A” Remittance Agent with Virtual Currency Exchange service, now referred to as Virtual Asset Service Provider, pursuant to Section 902-N, as amended by Bangko Sentral ng Pilipinas (BSP) Circular No. 1108, series of 2021, in relation to Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI).
CHUCHI G. FONACIER Deputy Governor 03 January 2025