Philippines

AML / KYC

Philippine Agencies Seek Ban On Offshore Gaming Operators

By Nithya Subramanian | 19/07/2024

Officials from various government departments said POGO activities paint a negative picture of the Philippines and result in lower tourism revenues.

Securities / Derivatives

BSP Issues New Guidelines on FX Reporting and Penalties

By Sanday Chongo Kabange | 18/07/2024

The BSP says reporting entities have until 31 December to make the necessary preparations and adjustments to their systems and processes.

Market Infrastructure

ASEAN Exchanges to Pursue Four POCs to Improve Competitiveness

By Nithya Subramanian | 17/07/2024

The POCs focus on developing common data infrastructure, enhancing capacity building, and creating a marketplace for transition financing and ESG investment.

Crypto / Digital Assets

Philippine Crypto Firm Launches First Peso Stablecoin

By Sanday Chongo Kabange | 09/07/2024

Coins.ph has launched its Peso-backed stablecoin to enhance efficiency and reduce costs of transactions and payments.

Market Infrastructure

BSP Ramps Up Financial Inclusion Efforts

By Sanday Chongo Kabange | 05/07/2024

The BSP will explore open finance use cases to enhance financial inclusion efforts and get more citizens into the formal financial system.

ESG / Sustainability

Philippine SEC Approves Launch of First Blue Bonds

By Editors | 04/07/2024

The approval was granted to Maynilad Water Services, which plans to raise capital for projects that promote sustainable water management.

Market Infrastructure

Project Nexus Completes Blueprint; Prepares for Live Implementation

By Nithya Subramanian | 02/07/2024

To facilitate live implementation, a new entity named the Nexus Scheme Organisation, will be established.

Fintech / Regtech

BSP Delays Implementation of New Data Collection System

By Sanday Chongo Kabange | 26/06/2024

The implementation of BSP’s new ITRS has been deferred to 2025 to allow banks to address “emerging technical and report-related concerns”.

AML / KYC

BSP Issues New Guidance on Beneficial Ownership Due Diligence

By Sanday Chongo Kabange | 25/06/2024

The paper is intended to help FIs in benchmarking best practices and calibrating their policies, systems, processes and controls.