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MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has directed virtual asset service providers (VASP) to conduct more rigorous reviews before listing digital tokens, in an effort to better protect consumers and limit risks to the financial system.
Memorandum No. M-2026-023 approved on June 5 sought to clarify regulatory expectations for VASPs in conducting due diligence reviews of coins and tokens offered to their customers.
READ: Beef up defenses vs crypto, virtual asset risks, financial firms told
That said, the BSP is requiring exchanges to assess a token’s issuer, market track record, utility, security features, liquidity and regulatory compliance.
