The Central Bank of the Philippines (BSP) has prohibited licensed cryptobuilders and brokers from maintaining private cryptocurrencies to bring the local market into compliance with FATF anti-money laundering standards. The new rules require all registered virtual asset service providers (VASPs) to stop listing, trading, and entering and withdrawing coins that hide transaction participants' data. Users are not prohibited from storing such assets in personal non-cascading wallets.

The regulator also tightened the requirements for a digital asset listing. Crypto platforms are now required to assess tokens for issuer reputation, transparency, security, liquidity, and legal purity. Separate strict rules have been introduced for stablecoins: exchanges must analyze the mechanisms of their issuance, backup and repayment order. In addition, sites must regularly monitor the risks of assets already traded and promptly limit their support when liquidity falls or signs of heightened risk appear.

These measures were a continuation of the Philippine authorities' policy to clean up the crypto market. Previously, by order of the NTC, local providers already restricted access to unlicensed foreign exchanges, including Coinbase and Gemini.