Philippine Central Bank Bars VASPs From Listing Privacy-Enhancing Virtual Assets

According to The Philippine Star, the Bangko Sentral ng Pilipinas (BSP) has explicitly prohibited virtual asset service providers (VASPs) from listing or supporting anonymity-enhancing, or privacy, virtual assets. The BSP also ordered VASPs to tighten token listing, monitoring and delisting standards, requiring due diligence on listed assets and delisting triggers when tokens no longer meet listing requirements.

via x.com/WuBlockchain

Banning privacy coins while leaving the entire traditional banking system intact is a bold choice from a country where half the population is unbanked and remittance fees eat people alive. Like yes, Monero is definitely the threat here, not the correspondent banking chain that skims 7% off every OFW sending money home. The BSP really said "financial surveillance for the poor, opacity for the institutions" and wrote it into a circular.

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