Quick Take: BSP Outlines What Crypto Users Should Do If They Have Concerns Against Licensed VASP
BSP-licensed VASPs, the regulator said, are required to follow strict policies that protect consumers.
Fake Binance Ad in PH Asks Users to Visit Suspicious Site
There are deceptive ads circulating urging users to download the Binance app from suspicious sites.
Quick Take: BSP Strengthens FX Market Understanding Through Nationwide Information Campaign
The BSP also organized virtual FX briefings at its Head Office, specifically targeting compliance officers from banks and representatives of industry associations.
Mixed Reactions Surface as BSP Studies Subscription Fee Model for Digital Payments
The community voiced concerns and shared mixed reactions after the Bangko Sentral ng Pilipinas (BSP) said in a media interview that it is studying the possibility of replacing per-transaction fees with a subscription-based model for digital payment platforms. What’s the significance: The proposal, if implemented, could directly impact how consumers and businesses engage with digital…
Quick Take: BSP Considers Subscription Fees for Digital Payments to Lower Costs
This move aims to reduce transaction costs and support financial inclusion.
BSP Lifts Moratorium, Opens 4 Slots for Digital Bank Licenses
The BSP lifts its moratorium on digital banks, allowing four new license applications under stricter regulations starting January 2025.
JUST IN: BSP Monetary Board Cancels VASP License of Early Crypto Exchange ETRANSS
The Monetary Board, the policymaking body of the Bangko Sentral ng Pilipinas (BSP) has canceled the Certificate of Registration of ETRANSS INTERNATIONAL REMITTANCE CORP. to operate as a Type “A” Remittance Agent with Virtual Asset Service Provider (VASP) functions. Why it matters: The BSP has cancelled multiple crypto exchanges licenses in the past year alone,…
BSP Expands Use of Digital Regulatory Platform for VASPs
BSP is expanding its ASTERisC* platform to all banks and VASPs by January 2025 to enhance cybersecurity and streamline compliance.
Fact Check: Is Pi Nexus Really Linked to BIS & BSP Project Nexus?
The clarification is important to separate Pi Nexus and Project Nexus, two unrelated initiatives, and clear up misinformation.
Financial Institution Loses BSP License Over Compliance Issues | Weekly News Recap
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. It’s time for the weekly news recap. Here are the top crypto news stories of the past week! Market Updates 📈 Here are the crypto highlights of the week: Money Service Business Loses BSP License Over Compliance Issues The Bangko…