Philippines Crypto News

The Bangko Sentral ng Pilipinas banned privacy coins entirely and set six evaluation pillars that all virtual asset exchanges must use before listing any crypto token for trading.

BlockShoals Technologies is integrating with a BSP-licensed VASP partner to develop secure Philippine peso fiat rails, a requirement for Binance's testing phase under the SEC's StratBox sandbox framework.

BlockShoals Technologies selected a Bangko Sentral-licensed Virtual Asset Service Provider to meet its SEC StratBox testing requirements after the BSP confirmed neither BlockShoals nor Binance holds a VASP Certificate of Authority in the Philippines.

Philippine regulators identified guaranteed daily returns of 1% to 2% as the clearest red flag of a crypto Ponzi scheme. Platforms must secure both an SEC secondary license and a BSP VASP certificate to operate legally.

The Bangko Sentral ng Pilipinas targets service providers that enable users to convert, transfer, hold, or exchange virtual assets for others. Once an entity facilitates conversion, custody, transfer, safekeeping, or exchange of virtual assets, it falls under BSP supervision as a Virtual Asset Service Provider.

Philippine regulators halted operations at Riscoin and BG Wealth Sharing Ltd. after discovering they were soliciting investments through unregistered crypto schemes. The enforcement action followed months of warnings that both firms ignored.

Regional Trial Court Branch 211 in Mandaluyong City sentenced 13 individuals to 3 years imprisonment each for aiding cybercrime under the Cybercrime Prevention Act of 2012, after they pleaded guilty to lesser charges on May 26.

A comprehensive legal guide identifies 11 common crypto investment scam vectors, with Securities and Exchange Commission oversight as the primary enforcement mechanism for unauthorized schemes in the Philippines.

The Securities and Exchange Commission froze assets and issued cease and desist orders against two unregistered crypto investment schemes this May. BG Wealth Sharing specifically targeted overseas Filipino workers, offering 1.3% daily interest through its DSJ Exchange platform.

The Philippine Securities and Exchange Commission approved BlockShoals Technologies to integrate with Binance under a regulated testing framework, marking the exchange's first legally-sanctioned access to Filipino users after years of unlicensed operation.

Netbank's new infrastructure lets Philippine fintechs convert USDC and USDT into local currency in under an hour using pre-agreed over-the-counter foreign exchange rates, eliminating the international wire transfers and nostro pre-funding delays that typically slow cross-border payments.

A new legal guide identifies seven common cryptocurrency scam patterns targeting Filipinos and maps recovery pathways through multiple government agencies including police, banking regulators, and securities authorities.

BlockShoals Technologies received final SEC approval to operate as a crypto-asset intermediary under the Strategic Sandbox framework. The 90-day integration period with Binance will deliver selected digital asset services to Filipino users under strict regulatory oversight and consumer safeguards.

Attorney Harold Respicio published a legal guide identifying 11 scam categories targeting Filipinos, from online selling to loan scams. The guide details specific legal remedies and evidence preservation steps victims should take immediately to prevent funds from moving offshore.

Coins.ph has integrated Tether payments with QRPh, the Philippines' national QR code standard overseen by Bangko Sentral ng Pilipinas. Users select Tether from their digital balance, scan merchant codes, and complete transactions without converting to pesos first.

The National Bureau of Investigation arrested an unlicensed recruiter who sent 25 Filipinos to a Myanmar crypto scam operation at KK Park in Myawaddy. The woman recruited victims through Telegram and WhatsApp, confiscated their passports upon arrival, and imposed work quotas.