Regulation· ★★★· bearish·

Philippines freezes 25 crypto wallets in corruption probe

  • —Frozen assets include 86 bank accounts, 4 investment accounts, an insurance policy and 25 crypto wallets
  • —Assets are linked to corruption and irregularities in flood-control projects
  • —Funds flowed through multiple VASPs and wallets, hampering tracing
  • —AMLC did not disclose the lawmaker's or other parties' identities
Why it matters: The case signals that regulators are increasingly freezing crypto wallets in corruption probes, raising compliance pressure on VASPs across Southeast Asia.
Source: PANews
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