Philippine Central Bank Bans Privacy Coins, Mandates Six-Tier Token Review for VASP Platforms

According to Philippine media reports, the Philippine central bank (BSP) issued a memorandum requiring virtual asset service providers (VASP) to establish strengthened due diligence and token vetting processes. The directive mandates evaluation of tokens across six dimensions: issuer background, market maturity, utility and transparency, traceability and security, redemption and liquidity reserves, and regulatory compliance. Notably, the memorandum explicitly prohibits privacy-enhanced virtual assets, including privacy coins, from being listed or supported on VASP platforms. VASP firms must also set thresholds for deviating from listing standards to trigger delisting procedures when adverse market dynamics, regulatory violations, cybersecurity risks, misleading disclosures, or market anomalies occur.
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GateUser-167eed2bvip
· 1h ago
冲就完了 👊
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GateUser-167eed2bvip
· 1h ago
Just charge forward 👊
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