The Bangko Sentral ng Pilipinas (BSP) announced in a press release that it is “finalizing new rules” for banks, e-wallets, and other financial service provides to adopt ‘stronger safeguards’ against online gambling. According to the BSP, these measures aim to minimize the risks of addiction, fraud, and financial harm while encouraging the responsible use of digital financial services. The Department of Finance (DOF) has collected nearly PHP 7 billion from the new 12 percent value-added tax (VAT) imposed on digital services. Read more in our articles including "BSP to implement stricter measures vs. online gambling: including face recognition" and "DSWD pushes digital shift to speed up social services".
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Jun 22, 2026The Bangko Sentral ng Pilipinas (BSP) announced in a press release that it is “finalizing new rules” for banks, e-wallets, and other financial service provides to adopt ‘stronger safeguards’ against online gambling. According to the BSP, these measures aim to minimize the risks of addiction, fraud, and financial harm while encouraging the responsible use of digital financial services.
The Department of Finance (DOF) has collected nearly PHP 7 billion from the new 12 percent value-added tax (VAT) imposed on digital services.
Our coverage of digital financial services safeguards includes: "BSP to implement stricter measures vs. online gambling: including face recognition"; "DSWD pushes digital shift to speed up social services"; "BIR collects over PHP 7 billion from digital services VAT". Each article provides unique insights and information.