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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BANGKO SENTRAL NG PILIPINAS
To
MEMORANDUM No. M-2025-
Subject
OFFICE OF THE GOVERNOR
All Applicants for an Authority to Operate as a Virtual Asset Service Provider tvASPj Continued Enforcement of the Moratorium on the Issuance of New Licenses for VASP The Monetary Board, in its Resolution No. 848 dated 20 August 2025, approved the continued enforcement of the moratorium on the issuance of new licenses for VASP. The Bangko Sentral recognizes the advancements in financial services brought about by digital platforms and technologies. particularly on the use of distributed ledgers such as blockchain technology. However. ongoing assessments have determined continued concerns on consumer protection and increasing issues on cybercrime. In this regard. the moratorium on the issuance of new licenses for VASP will continue starting 01 September 2025, subject to reassessment based on global and local developments For guidance and implementation. AUG Z ^ 2115 I^ ELI M. REMOLONA. JR. Governor ^
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Source: Bangko Sentral ng Pilipinas — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works