Regulation· ★★★· bearish·

Philippines central bank freezes payment operator registration for a year

  • —Moratorium on OPS registration will last 12 months from the effective date
  • —Merchant acquirers must enter into direct contracts with regulated VASPs
  • —VASPs are classified as high-risk categories alongside gambling and money services
  • —The draft circular will take effect 15 days after publication
Why it matters: The Philippines is tightening crypto providers' access to payment infrastructure, which could slow growth in the local digital asset market.
Source: CoinGeek
More on this
Regulation · 03:47
US Treasury: Stablecoin issuers hold nearly $200B in short-term government debt
 Regulation · 03:31
White House: Crypto market structure can't wait for post-election Clarity Act revival
 Regulation · 03:22
U.S. regulators rush to write crypto rulebook after Clarity Act stalls in Senate