#BSP Regulations

Recent BSP circulars have strengthened oversight of these automated clearing houses, while published fee matrices show how banks are expected to disclose and rationalize charges for digital transfers, including zero‑fee tiers and volume‑based pricing. Industry observers note that proprietary “linked account” cash‑in options have been gradually giving way to more transparent, ACH‑based transfers governed under BSP rules. The Bangko Sentral ng Pilipinas (BSP), under BSP Circular No. The BSP has decided to refer to virtual currencies as defined under Circular No. Meanwhile, the BSP also recognizes opportunities and risks in the use of cryptocurrencies. The BSP's recent policy amendments have focused on improving its regulatory and supervisory response to money service business activities harnessing the technology of virtual currencies (VCs). The BSP noted that similar to VCs, VAs are not issued nor guaranteed by any jurisdictions and do not have legal tender status. Therefore, the BSP does not endorse VAs as legal tender, store of value, or investment vehicle. Read more in our articles including "GoTyme Bank Ends Linked Bank Cash‑Ins Under New BSP Rules" and "What is a Virtual Asset Service Provider (VASP)?".