The Bangko Sentral ng Pilipinas (BSP) has introduced stricter requirements for virtual asset service providers (VASPs), requiring them to apply deeper screening, monitoring, and delisting procedures for cryptocurrencies offered to customers.

The move comes as regulators continue to strengthen oversight of the country’s digital asset market.

The new guidance requires VASPs to establish a “robust due diligence and accreditation process” before listing virtual assets on their platforms, according to a memorandum issued by BSP Deputy Governor Lyn Javier.

BSP sets broader standards for token listings

Under the memorandum, VASPs must evaluate virtual assets across six areas: issuer background, market maturity, use cases, transparency…