DATA & FIGURES
The Philippines has been ranked #9 on Chainalysis's 2025 Global Crypto Adoption Index, with a 69% year-over-year growth in grassroots adoption. The new guidelines require VASPs to conduct ongoing monitoring of listed assets and establish thresholds that could trigger suspensions or delistings. The BSP has also banned anonymity-enhancing cryptos, such as Monero and Zcash, from being listed or supported by VASPs.
THE SCENARIO
The Philippines has been tightening its grip on crypto markets over the past year, starting with the SEC's licensing framework and offshore exchange blocks. The new listing rules slot into a system where crypto firms answer to two separate authorities: the SEC and the BSP.
DIRECT QUOTE
"This is long overdue, and I think this is the right call. I don't think this is bureaucratic red tape; this is the minimum bar any responsible platform should already be applying before listing an asset to retail users." — Alden Yburan, Head of Crypto at GCash
BBN INSIGHT
The new listing rules and ban on privacy coins are a significant development in the Philippines' crypto market. While the move is aimed at promoting financial stability and protecting customers, it may also have implications for the adoption of crypto in the country.
MARKET REACTION
The market reaction to the new listing rules and ban on privacy coins has been mixed. The price of Bitcoin has not been significantly affected by the news, with the cryptocurrency trading at around $66,171.00 with a 2.55% gain.