The Future is Cashless? 6 of 10 Retail Payments in 2024 are Digital: BSP Data
Digital payments in the Philippines surged past 57% of retail volume in 2024, with BSP rolling out new tech, rules, and projects to boost cashless adoption.
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BSP Prepares Policy to Address Online Gambling Risks on Digital Platforms
BSP and some members of the Senate are launching parallel efforts to restrict online gambling through tighter bank controls and sweeping new legislation.
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PH Crypto Oversight Improves, But FATF Flags Gaps on DeFi, Stablecoins, Offshore Exchanges
The FATF says the Philippines improved crypto regulation but still fails to close major gaps in DeFi, stablecoins, and unlicensed offshore exchanges.
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To Combat Financial Scams: Central Bank Enforces Stricter Oversight on VASPs
Under new AFASA-aligned rules, the BSP now requires VASPs to deploy machine learning fraud systems, kill switches, and money locks to shield users from scams.
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BSP Blacklists Four Manila Money Service Businesses for Skipping License
The BSP has permanently banned four Manila-based money changers for operating without registration, citing violations of Section 901-N.
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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.
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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.
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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.
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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…
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Quick Take: BSP Considers Subscription Fees for Digital Payments to Lower Costs
This move aims to reduce transaction costs and support financial inclusion.
