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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 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.
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.
The Bangko Sentral ng Pilipinas warned Filipinos on May 11 that using unauthorized virtual asset service providers exposes them to fraud, cyberattacks, and potential fund loss with no legal recourse.
Brazil's Finance Ministry blocked access to prediction market platforms Polymarket and Kalshi on Thursday. The Central Bank of Brazil issued a resolution prohibiting derivatives contracts based on sports events, virtual gaming, political outcomes, and other non-economic benchmarks.