Philippines' BSP disqualifies five unregistered money service businesses
- —Five money changers in Manila, Pampanga and Davao operated without BSP registration
- —The ban also covers any other ventures owned or controlled by the same operators
- —Action taken under Circular No. 1206 covering MSBs and VASPs
- —BSP framed the move as consumer and financial system protection
Why it matters: Tighter enforcement against unlicensed non-bank payment and crypto-adjacent operators raises compliance risk in the Philippine market.
Source: BitPinas