- The BSP barred licensed crypto providers from listing privacy-focused cryptocurrencies to strengthen market oversight.
- New rules require exchanges to assess token transparency, compliance, liquidity, issuer background, and market maturity.
- Providers must continuously monitor listed assets and delist tokens linked to legal, security, or market risks.
The Philippines has tightened oversight of digital assets after the Bangko Sentral ng Pilipinas (BSP) barred licensed virtual asset service providers from listing privacy-focused cryptocurrencies. The directive, approved on June 5, 2026, also requires exchanges, brokers, and wallet providers to adopt stricter listing, monitoring, and delisting procedures as regulators increase scrutiny across the crypto market.
BSP Sets New Listing Standards
According to a memorandum signed by BSP Deputy Governor Lyn Javier, virtual asset service providers must implement a stronger due diligence process before listing any token. The BSP directed firms to assess assets using six key areas.
These include issuer background, market maturity, use cases, transparency, liquidity, and legal compliance. For issuer reviews, providers may examine ownership structures, audited financial statements, beneficial owners, and corporate governance records.
In addition, firms may identify potential conflicts involving issuers, regulators, government officials, and related entities.
Privacy Coins Face Direct Prohibition
While introducing broader listing requirements, the BSP also imposed a direct restriction on anonymity-enhancing virtual assets. The memorandum states that licensed providers cannot list or support privacy-focused cryptocurrencies.
Furthermore, the central bank instructed providers to evaluate the traceability and security of every asset offered to customers. That review may include blockchain technology, consensus mechanisms, interoperability, independent audits, and blockchain analytics capabilities.
For asset-backed and fiat-backed tokens, the BSP requires additional assessments covering issuance, redemption, burning mechanisms, and reserve structures.
Ongoing Monitoring Now Required
Beyond initial reviews, the BSP ordered providers to continuously monitor listed assets against approved standards. According to the guidance, exchanges must establish thresholds that trigger token suspensions or delistings when requirements are no longer met.
The central bank said firms should remove assets linked to legal violations, cybersecurity risks, consumer protection concerns, or adverse market developments. Moreover, misleading disclosures, market abuse, and abnormal price activity can also lead to suspension or removal.
According to The Philippine Star, the new framework arrives as regulators strengthen safeguards around virtual assets and market conduct. The BSP added that its requirements are not exhaustive. However, any additional listing criteria developed by providers must remain aligned with the central bank’s regulatory standards.