BANGKO SENTRAL NG PILIPINAS

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    Crypto / Digital Assets

    BSP Allow PHP Stablecoin Project to Enter Sandbox

    By Editors | 13/05/2024

    Coins.ph will test a peso-backed stablecoin in payments, trading, hedging and DeFi applications.

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    AML / KYC

    BSP Mandates 24-Hour Reporting for Significant Risk Events

    By Mark Johnston | 06/05/2024

    New BSP rules require bank and non-bank FIs to report significant ML/TF/PF risk events within 24 hours.

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    Fintech / Regtech

    Philippines: NPLs at Digital Banks Continue to Rise

    By Sanday Chongo Kabange | 10/04/2024

    Only two of the Philippines’ six digital banks are currently profitable. Yet, while NPLs are rising, deposit growth is still strong.

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    BSP Proposes New Consumer Protection Supervisory Framework

    By Editors | 03/04/2024

    The framework sets out how the BSP will assess the risks an FI poses to consumers so that supervision can be more risk-based and calibrated.

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    Fintech / Regtech

    The Compliance Complexity Driving RegTech Demand in APAC

    By Ed Probst | 02/04/2024

    The growing complexity of regulatory requirements including in the reporting space is prompting FIs to rethink their approach to compliance, says Ed Probst.

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    AML / KYC

    BSP Issues New Manual of Regulations for Payment Systems

    By Sanday Chongo Kabange | 26/03/2024

    ​The manual sets out rules and regulations governing the operations of the national payment system, as well as payment providers.

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    AML / KYC

    BSP Directs Banks to Prioritise PhilID in Customer KYC, Verification

    By Editors | 15/03/2024

    The BSP has identified the national ID, which is part of PhilSys, as a driver of financial inclusion in the Philippines.

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    Fintech / Regtech

    BSP Studying Impact of Generative AI on Banking Industry

    By Sanday Chongo Kabange | 12/03/2024

    The BSP is seeking to introduce  ‘guardrails’ to mitigate potential risks associated with the use of Gen AI in the banking industry.

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    ESG / Sustainability

    Philippine SEC Adopts Sustainable Finance Taxonomy

    By Sanday Chongo Kabange | 06/03/2024

    The SEC said issuers of securities should refer to the taxonomy when making investment decisions or designing sustainable financial products and services.

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    Fintech / Regtech

    BSP to Enhance Reporting Rules for Money Services Businesses

    By Editors | 06/03/2024

    MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

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