1108 series of 2021, published new rules regulating Virtual Asset Services Providers (VASPs) that offer their services or engage in VASP activities in the Philippines. 944 dated February 6, 2017, as Virtual Assets (VAs), recognizing the evolving nature of this financial innovation. 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). VCs and other crypto assets are now generally called Virtual Assets (VAs). Virtual Asset Service Provider (VASP) Formerly known as Virtual Currency Exchanges (VCEs), Virtual Asset Provider (VASP) refers to any entity that offers services or engages in activities that provide a facility for the transfer or exchange of virtual assets. The VASP's products and services include virtual assets/currencies (such as Bitcoin, Ethereum, Ripple, etc.) and e-wallets. Read more in our articles including "What is a Virtual Asset Service Provider (VASP)?" and "BIR opens Tax Payer Portal".
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Apr 2, 20261108 series of 2021, published new rules regulating Virtual Asset Services Providers (VASPs) that offer their services or engage in VASP activities in the Philippines. 944 dated February 6, 2017, as Virtual Assets (VAs), recognizing the evolving nature of this financial innovation.
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). VCs and other crypto assets are now generally called Virtual Assets (VAs). Virtual Asset Service Provider (VASP) Formerly known as Virtual Currency Exchanges (VCEs), Virtual Asset Provider (VASP) refers to any entity that offers services or engages in activities that provide a facility for the transfer or exchange of virtual assets.
Our coverage of virtual asset service providers includes: "What is a Virtual Asset Service Provider (VASP)?"; "BIR opens Tax Payer Portal"; "DTI retracts plan to require permit when running online ads and promos". Each article provides unique insights and information.