BSP Blocks Privacy Coins from Philippine Crypto Exchanges

The Philippines' central bank, Bangko Sentral ng Pilipinas (BSP), has banned virtual asset service providers from listing privacy coins. This move is part of a broader effort to tighten regulations on cryptocurrency trading in the country.

The BSP has ordered these service providers to screen and monitor tokens offered to customers more closely. They must also remove any privacy coins currently listed from their platforms by an unspecified deadline.