The Philippine regulator tightens rules for listing crypto assets: privacy coins are banned.
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas) has officially approved updated cryptocurrency listing requirements for all licensed virtual asset service providers. The key innovation is a complete ban on the addition and support of privacy-focused assets, so-called privacy coins. This decision reflects the global trend of regulators tightening control over anonymous transactions.
The new regulation requires providers to conduct comprehensive due diligence before listing any digital asset. The review must cover six mandatory areas: data on the issuer and project team, market maturity and stability, real-world use cases, code transparency and smart contract security, liquidity and reserve availability, as well as full compliance with local and international laws.
Enhanced Monitoring and Preventive Measures
In addition to pre-listing checks, platforms are required to conduct continuous monitoring of already listed assets. The regulator demands that clear criteria be defined in advance for suspending trading or delisting in case of violations, vulnerabilities, or changes in market conditions. This makes the listing management process more dynamic and reduces risks for investors.
My professional commentary: The ban on privacy coins is a logical step for a jurisdiction seeking to comply with FATF standards. However, for the market, this is a signal: anonymity is becoming a luxury that regulators are not willing to tolerate. In the long term, we will either see such assets move into the gray zone or transform into tools with compliance functions.