The Philippine regulator tightens rules for listing crypto assets: privacy is banned
The Central Bank of the Philippines (BSP) has officially approved an updated digital asset listing regulation for all licensed Virtual Asset Service Providers (VASPs). This move marks a tightening of control over the market, which will directly affect both local exchanges and their users.
The key innovation is a complete ban on the addition and support of privacy-oriented assets. This category includes cryptocurrencies that use technologies that complicate transaction tracking (e.g., Monero, Zcash, and similar). The regulator has made it clear: anonymity is incompatible with financial security requirements.
Before approving the listing of any coin or token, providers are required to conduct a comprehensive due diligence check across six key areas: issuer data, market maturity, practical use cases, level of transparency and security, liquidity and reserve status, and full compliance with local laws.
Additionally, the BSP has introduced a requirement for ongoing monitoring of already listed assets. Platforms must predefine clear criteria for suspending trading or fully delisting an asset if its performance deteriorates or regulatory risks emerge.
My comment: This is a logical continuation of the global trend toward "transparency" in the crypto industry. The Philippines, as one of the fastest-growing digital asset markets in Asia, is clearly signaling that it wants only controlled and verifiable instruments. Investors should expect that other regulators in the region will adopt similar measures, which in the long term will lead to the washout of privacy coins from legal exchanges.