Philippine Central Bank Considers 12-Month Pause on Payment Operator Licenses
BSP evaluates one-year suspension on new payment-system registrations with added controls on crypto-merchant payments.
The Bangko Sentral ng Pilipinas is considering a 12-month suspension on new registrations for payment-system operators.
The proposal pairs the pause with enhanced due diligence, transaction monitoring, transaction limits and settlement safeguards for crypto-merchant arrangements.
The measure is presented as a financial-stability step rather than a rejection of digital assets.
Key details still open
The final effective date, scope of pending applications and exact obligations on existing operators remain unspecified.