Philippines Central Bank Bans Privacy Coins, Orders Stricter Crypto Listing Rules

The Philippine central bank (BSP) issued new rules requiring crypto exchanges to perform rigorous due diligence before listing tokens, and banned anonymity-enhancing privacy coins like Monero and Zcash from compliant platforms.

• BSP ordered all licensed Virtual Asset Service Providers to build robust due diligence and accreditation processes before listing any token
• Privacy coins (anonymity-enhancing assets like Monero and Zcash) are banned from compliant local exchanges
• Exchanges must conduct ongoing monitoring and set thresholds that trigger delisting for scams, de-pegging, or security breaches
• The Philippines ranks 9th globally in crypto adoption and now has two regulators (BSP and SEC) overseeing the industry

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