The central bank emphasized to regulated entities that transactions or business relationships with VASPs and other counterparties that are unregistered, unauthorized, or unlicensed—whether operating locally or offshore—are strictly prohibited.

BSP will launch a new CBDC pilot in 2026 to enable on-chain settlement of tokenized government bonds, solving a key gap in digital bond infrastructure.

BSP is set to announce the shortlist for four new digital bank licenses, spotlighting firms with bold, tech-driven models and strong foreign backing.

Citing rising financial risks, the BSP urged public caution and stressed the need for licensed platforms in digital transactions.

The restrictions coincide with confirmation by the National Telecommunications Commission (NTC) that it has ordered the immediate blocking of 50 online trading platforms without VASP (Virtual Assets Service Provider) license at the request of the Bang...

The request to NTC from the BSP, which targets unlicensed Virtual Asset Service Providers (VASPs), comes amid a broader crackdown on unregulated financial services .

"Using e-wallets and online banking offers a safe and more convenient way to send cash gifts during the Christmas season," the advisory read.