The Bangko Sentral ng Pilipinas (BSP) announced on Thursday, Sept. 25, that it will stop accepting new applications for digital banking licenses beginning Dec. 1, 2025, effectively closing the application window just 11 months after it was reopened.
The Bangko Sentral ng Pilipinas (BSP) has extended indefinitely its moratorium on the issuance of new licenses for virtual asset service providers (VASPs), citing heightened risks in the virtual asset market.
The directive requires organizations to phase out password-only logins and transition to more secure, phishing-resistant methods such as passwordless authentication based on FIDO (Fast Identity Online) standards.
Bukidnon representative Jonathan Keith Flores is pushing for tighter regulations on online gambling transactions, warning that the Bangko Sentral ng Pilipinas’ (BSP) proposed rules could leave senior citizens and other vulnerable groups at risk.
Launched on July 29, the Credit Risk Database Philippines Web-based Scoring System (CRDPh System) provides banks and other financial institutions (FIs) with a standardized tool for evaluating the creditworthiness of SMEs.
House Bill No. 421, or the proposed Strategic Bitcoin Reserve Act, directs the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 Bitcoins annually over a five-year period, totaling 10,000 BTC.
Two lawmakers sounded the alarm over the growing reach of online gambling in the Philippines, as Pagcor revealed during a House budget hearing that 18 to 20 million Filipinos have registered with gambling apps, with 8 to 10 million of them considered active players.
The Bangko Sentral ng Pilipinas (BSP) has ordered mobile payment platforms, including GCash and Maya, to cut access to in-app gaming within 48 hours, amid mounting concerns in the Senate over the social costs of online gambling.
Following a public consultation, the Bangko Sentral ng Pilipinas (BSP) is finalizing rules that will require banks, e-wallet operators, and other financial service providers to strengthen measures against online gambling-related harm.
The newly launched Automated Fare Collection System (AFCS) enables contactless payment options, including Visa and Mastercard debit and credit cards, and QR payments via GCash using NFC-enabled Android smartphones.
