Philippine central bank gains powers over crypto assets
Revised regulations create “unbroken chain of regulated entities” for virtual asset providers
The Philippine central bank has expanded its supervisory remit to oversee all entities that conduct transactions in virtual assets.
The new guidelines were approved by the Bangko Sentral ng Pilipinas’s (BSP) monetary board on January 26. They amend the regulations targeted at virtual currency exchanges, or VCEs, issued in 2017.
BSP governor Benjamin Diokno said the new regulations “will ensure that activities relating to virtual asset service providers are executed within an unbroken chain of
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