Welcome to the first “This Week in Crypto” digest — a regular PH-focused roundup of what actually matters for traders here, instead of just repeating whatever’s trending on global crypto Twitter. If you’re brand new to any of this, start with our beginner’s guide to crypto trading in the Philippines first.
Philippines: Regulation Is Tightening, Not Loosening
The big theme in PH crypto regulation right now is consolidation and caution, not expansion:
- BSP’s VASP license moratorium remains in place. Under Bangko Sentral ng Pilipinas Circular 1108, the freeze on new Virtual Asset Service Provider licenses has been extended indefinitely over consumer protection concerns. If you’re evaluating a “new” exchange claiming to be freshly BSP-licensed, that claim is worth double-checking against the BSP’s public VASP list.
- The SEC has its own rulebook now. On top of the BSP’s VASP framework, the SEC introduced Crypto-Asset Service Provider (CASP) rules requiring platforms to hold licenses and meet capital requirements — another layer of oversight aimed at cleaning up smaller, less capitalized platforms.
- Privacy coins are getting squeezed out. Regulators have moved to ban privacy-focused coins like Monero and Zcash from licensed platforms, alongside stricter pre-listing checks for new tokens and clearer delisting triggers for risky assets.
None of this is legal advice — rules are actively moving, so if you’re depositing meaningful money anywhere, check the platform’s current licensing status directly rather than trusting an older article (including this one).
GCash and Maya: Bigger Fintech Story, Quiet Crypto Story
GCash and Maya between them reach roughly 95% of digitally active Filipinos (about 94 million and 50 million registered users respectively), which is why any move they make in crypto matters more than a niche exchange launch.
- Maya’s IPO is reportedly targeting a dual PSE-Nasdaq listing in Q3 2026 — a sign the company is positioning itself as a serious, internationally visible fintech player, not just a wallet app.
- GCash’s parent, Mynt, remains in “evaluating capital solutions” mode on its own listing, with no confirmed date yet.
- On the product side, GCrypto continues to expand its Bitcoin and Ethereum buying features, with reports of a more active trading experience in the works — worth watching if you currently rely on GCash as your main on-ramp.
Global Markets: Rate Hike Jitters and Geopolitical Noise
Zooming out, the global backdrop this week has been dominated by macro and geopolitical factors rather than crypto-specific news:
- Bitcoin traded in the $76,800–$77,900 range, with Ethereum around $2,475–$2,520, as markets priced in a sharply higher probability of a Fed rate hike (up to roughly 86.5% at one point, from under 70% just days earlier). Higher rates typically pressure risk assets like crypto in the short term.
- Escalation in the Middle East — including reports of an attack affecting a Saudi Arabian pipeline — pushed oil prices up over 11% across a five-day stretch and added to broader risk-off sentiment that spilled into crypto prices.
- On the more constructive side, Coinbase announced a partnership with payments infrastructure provider Moov to bring stablecoin acceptance, settlement, and real-time funding to over 1,000 community banks and credit unions — a sign that stablecoin rails are quietly becoming mainstream financial infrastructure, not just a trading tool.
What this means for PH traders: none of this is a reason to panic-sell or panic-buy. Rate-driven volatility and geopolitical shocks tend to be short-term noise layered on top of whatever your actual thesis is. If you don’t have a plan for moments like this yet, our guide on risk management for beginners covers the basics of position sizing and setting rules before you need them.
Video: Local Take on This Week’s Stories
For a Philippines-specific rundown in video form, BitPinas — a long-running local crypto news outlet — publishes regular recaps like this one:
This is a third-party video from BitPinas, not produced by Crypto Observe — treat specific figures as illustrative of the format, and check current numbers directly.
What We’re Watching Next Week
- Whether the Fed actually follows through on the rate hike markets are now pricing in, and how crypto reacts.
- Any concrete update on Maya’s PSE-Nasdaq listing timeline.
- Further BSP/SEC guidance on how the VASP moratorium and new CASP rules interact for platforms trying to operate legally in the Philippines.
Frequently Asked Questions
Why isn’t the BSP issuing new crypto exchange licenses right now?
The moratorium on new Virtual Asset Service Provider (VASP) licenses, under BSP Circular 1108, has been extended indefinitely over consumer protection concerns — the BSP wants to strengthen oversight of existing licensees before approving new ones, rather than expanding the pool during a period of tighter scrutiny.
Does the SEC’s CASP rule replace the BSP’s VASP rules?
No — they’re layered, not one replacing the other. The BSP’s VASP framework covers virtual currency exchange functions, while the SEC’s Crypto-Asset Service Provider (CASP) rules add licensing and capital requirements aimed more at investor protection for crypto-asset offerings. A platform may need to satisfy both, depending on what it does.
Will Maya’s IPO change its crypto features?
There’s no confirmed link between the reported Q3 2026 PSE-Nasdaq listing plans and Maya’s crypto product roadmap specifically — an IPO is a corporate finance event, not necessarily a product change. Worth watching, but don’t assume one implies the other.