Philippine Crypto Traders Back BSP's Tighter Regulations and Literacy Push

The Philippine crypto trading community has expressed support for the Bangko Sentral ng Pilipinas' (BSP) proposed tighter regulations on digital assets. The draft circular aims to freeze new registrations for Operators of Payment Systems (OPS) for 12 months while requiring payment firms to transact directly with regulated virtual asset service providers (VASP). Global Miranda Miner Group (GMMG) sees these measures as a sign of industry maturation, emphasizing that stronger oversight enhances accountability and traceability.

GMMG CEO Arlone Abello highlighted that regulation does not eliminate crypto investment risks but promotes confidence in the ecosystem. With nearly 12.8 million crypto users expected in the Philippines this year, Abello stressed the need for financial and market literacy to help newcomers navigate risks and understand disciplined trading.

The BSP's draft also includes enhanced due diligence, monitoring, and transaction limits for payment companies dealing with VASPs. GMMG plans to collaborate with industry partners and regulators to expand education on technical analysis, risk management, and market behavior. The group's next Crypto Roundtable is scheduled for November 2026.