Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
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The Bangko Sentral ng Pilipinas (BSP) has officially confirmed that it requested the National Telecommunications Commission (NTC) to block access to unlicensed Virtual Asset Service Providers (VASPs) operating in the country.
In an email response to BitPinas, the central bank stated that it shared the results of its monitoring and surveillance activities with the NTC, which subsequently led to the blocking order.
BitPinas specifically requested the BSP to share the list of the 50 unlicensed VASPs that were ordered to be blocked to provide clarity to the public. However, the central bank did not provide the specific names of the entities in its response but shared the reasoning for the order.
The full response of the BSP to this author’s inquiry is shared in full at the end of this article.
Surveillance and Action
The confirmation follows reports from December 2025 regarding the NTC’s move to block 50 unregistered online trading platforms and websites.
At the time, BitPinas sought clarification with the central bank on whether a specific list of these entities existed, noting that some blocked platforms — such as certain international stock brokerages — were not previously flagged in public advisories by the Securities and Exchange Commission (SEC).
While the BSP did not release the specific list of the 50 entities in its correspondence, it affirmed its role in the enforcement action:
“The Bangko Sentral ng Pilipinas (BSP) has shared the results of its monitoring and surveillance activities to the National Telecommunications Commission (NTC) and requested NTC to block access to unlicensed Virtual Asset Service Providers (VASPs).”
Balancing Innovation and Risk
The central bank acknowledged the dual nature of the industry. It recognized the “positive impact” of virtual assets for certain use cases but emphasized that the associated dangers have become too significant to overlook.
“Nonetheless, anti-money laundering and cyber risks associated with the use of virtual assets are increasingly becoming more difficult to ignore,” the BSP noted.
Consumer Advisory
The BSP reiterated the need for inter-agency collaboration to protect the financial system and consumer rights. It also issued a reminder to the public regarding their role in digital security:
“Consumers are enjoined to protect their personal information, practice cyber hygiene, and transact only with duly licensed entities. We, as institutions and individuals, are collectively responsible in protecting our digital identities and the financial system.”
Context: The December Crackdown
The NTC’s blocking action in late 2025 targeted various investment platforms deemed to be operating without the necessary licenses in the Philippines.
This broad crackdown affected numerous websites and sparked discussions among Filipino users who were accessing international platforms for both crypto and traditional stock trading.
A list of registered VASPs is available on BitPinas, which serves as reference for platforms allowed by the BSP to facilitate crypto-to-fiat transactions and other virtual asset services in the country.
Full Email Response of the BSP
The Bangko Sentral ng Pilipinas (BSP) has shared the results of its monitoring and surveillance activities to the National Telecommunications Commission (NTC) and requested NTC to block access to unlicensed Virtual Asset Service Providers (VASPs).
The BSP is cognizant of the real-world effects of virtual assets, including its positive impact on certain use cases. Nonetheless, anti-money laundering and cyber risks associated with the use of virtual assets are increasingly becoming more difficult to ignore.
It is important for the BSP and all agencies concerned to coordinate and collaborate in promoting the safety of the financial system and protection of consumer rights. In turn, consumers are enjoined to protect their personal information, practice cyber hygiene, and transact only with duly licensed entities. We, as institutions and individuals, are collectively responsible in protecting our digital identities and the financial system.
This article is published on BitPinas: BSP Confirms Request to NTC to Block Unlicensed Crypto Exchanges, Declines To Share List
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