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 a new regulation for licensed Virtual Asset Service Providers (VASPs). According to the updated requirements, cryptocurrency exchanges and platforms are prohibited from listing or supporting privacy-focused assets. This decision aims to strengthen transaction oversight and prevent money laundering.
The new document requires providers to conduct a multi-factor assessment of each asset before adding it. The evaluation must cover six key areas: issuer data, market maturity, real-world use cases, level of transparency and security, liquidity and reserves, and compliance with local laws. This approach significantly raises the entry barrier for low-quality or questionable projects.
Additionally, the regulator requires platforms to continuously monitor already listed assets. Providers must predefine clear criteria for suspending trading or delisting. This means that even after successfully passing the initial review, a token may be removed from circulation if market conditions change or violations are detected.
Analytical commentary: The Philippines continues to move toward stricter regulation, a trend common in many Asian jurisdictions. The ban on privacy coins, such as Monero or Zcash, could significantly limit the liquidity of these assets in the region, but it will also reduce risks for investors and increase market transparency. In the long term, such measures contribute to the legitimization of the crypto industry, although they create additional administrative barriers for participants.