Maturing Market: Philippine Crypto Leaders Support Proposed BSP Licensing Pause

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Representatives across the Philippine crypto sector welcome proposed Bangko Sentral ng Pilipinas controls on VASPs, calling for enhanced user literacy alongside regulatory rules.

PRESS RELEASE

Philippine crypto community welcomes tighter BSP rules, calls for industry-wide literacy

Philippines —  The Philippine crypto trading community has welcomed the Bangko Sentral ng Pilipinas’ (BSP) proposed freeze on new payment system operator registrations and its tighter controls on virtual asset service providers (VASPs) as a sign that the local digital asset market is maturing, with Global Miranda Miner Group (GMMG) supporting stronger accountability and traceability while emphasizing that regulatory oversight does not mean risk-free investing. With users projected to reach nearly 12.8 million this year, the community warns that rules alone will not protect new market entrants unless the whole industry also improves market literacy.

Arlone Abello, CEO of GMMG and Founding Chairman of the Innovative Movement of the Philippine Association of Crypto Traders (IMPACT), set out the position at The Crypto Roundtable. He was joined on the panel by John Garcia, Head of Strategic and Market Education Ventures at GCash; Alden Yburan, Head of GCrypto; and Patrick Lao, Head of Retail at PDAX.

“A pause on new licenses and closer controls on virtual asset service providers are not a step back for crypto. They are what happens when an industry grows up,” Abello said. “When every payment can be traced to a real business, users, banks and partners can deal with crypto platforms with the same confidence they have in any other financial service. That is how the industry earns its place in mainstream finance. Our job now is to make sure users mature at the same pace.”

The BSP’s draft circular, released for consultation earlier in September, would suspend new registrations of Operators of Payment Systems (OPS) for 12 months while the central bank reviews its licensing framework. It would also require payment firms to deal with regulated VASPs only through direct arrangements, with enhanced due diligence, monitoring, and transaction and settlement limits.

Abello noted that regulation can strengthen safeguards, but it cannot by itself make people better investors. Without stronger financial literacy, market participants may still face losses even in a regulated market, making education an important complement to regulatory oversight. 

About 10% of Filipinos now use cryptocurrency. Much of this adoption comes from demand for digital-first financial services in a country where about 76% of the population is unbanked or underbanked. For many new users, crypto is one of their first experiences of investing, which makes understanding risk all the more important.

“Reaching this level of participation shows that crypto is no longer just a niche interest. As the ecosystem grows, users also need to become more disciplined in how they understand risks, manage exposure, and make decisions in the market,” Abello said.

Abello added that the kind of people taking part has changed markedly since the play-to-earn boom that drove early adoption. According to him, the market now draws traders moving across from gold and equities, professionals applying familiar investment approaches to digital assets, and younger Filipinos building crypto into their wider financial plans.

He expects more Filipinos to enter the market as global crypto markets regain momentum. Total crypto market value recently climbed back above US$3 trillion, driven by Bitcoin reaching around US$86,000, its highest level since late January. Open interest in perpetual futures also neared US$160 billion, a sign that traders are taking on more leverage as activity picks up. With more newcomers likely to arrive during the upswing, Abello said this is the right time for the industry to invest in education.

GMMG said it will continue working with industry partners and regulators to expand education in technical analysis, risk management, market behavior, and disciplined trading. It will hold the next edition of The Crypto Roundtable in November 2026. Interested participants may visit globalmirandaminer.com for upcoming announcements.

Benefits of the Announcement & Regulatory Initiative

  1. Enhanced Transaction Security: Direct arrangements between payment providers and regulated VASPs reduce consumer exposure to unverified counterparties.
  2. Improved Institutional Trust: Stricter compliance guidelines help traditional banking institutions interface smoothly with digital asset exchanges.
  3. Greater Fraud Prevention: Full transaction auditability helps law enforcement and central bankers track illicit capital flows.
  4. Protection for Retail Investors: Heightened due diligence standards reduce the presence of bad actors and unlicensed operators.
  5. Systematic Industry Assessment: The 12-month OPS registration pause allows the central bank to review and refine licensing standards without market saturation.
  6. Encouraging Market Education: Prompting platforms to invest in trader literacy prevents misinformed speculation during market upswings.
  7. Empowering Unbanked Populations: Provides a structured, safe gateway for unbanked citizens seeking alternative financial services.
  8. Professionalizing Local Trading: Shifts market behavior from speculative gambling toward disciplined, risk-managed investing.
  9. Attracting Traditional Capital: Clearer regulatory boundaries encourage equity and commodity traders to diversify into digital assets.
  10. Sustainable Ecosystem Growth: Balances financial innovation with risk mitigation to build a long-term, stable digital economy.

Insights: What This Means for the Philippine Crypto Market

  1. Regulation Indicates Market Maturity: Policy shifts signal that digital assets are moving from a niche market into mainstream financial infrastructure.
  2. Rules Cannot Replace Investor Due Diligence: Government compliance frameworks do not guarantee profitable returns or neutralize market volatility.
  3. Addressing the Financial Inclusion Gap: High digital asset usage highlights the persistent demand for accessible financial tools among the unbanked.
  4. Transition From Gaming to Strategic Wealth: Market dynamics have matured beyond play-to-earn applications toward long-term portfolio diversification.
  5. Global Market Momentum Amplifies Local Risk: Rising Bitcoin valuations and high futures open interest make investor education urgent for incoming participants.
  6. Collaboration Between Tech Giants and Regulators: Joint dialogues involving GCash, PDAX, and GMMG demonstrate industry commitment to self-regulation and user protection.
  7. Traceability Accelerates Institutional Adoption: Auditable transaction trails are necessary for traditional financial institutions to offer crypto-adjacent products.
  8. The Value of Structured Education: Programs teaching technical analysis and risk management help cushion retail traders against market downturns.
  9. Proactive Policy Prevents Market Failure: Pausing new registrations allows regulators to identify systemic risks before expanding platform licenses.
  10. Positioning the Philippines as a Regional Hub: A clear, well-regulated digital asset framework strengthens the country’s standing within Southeast Asian fintech.

About Global Miranda Miner Group

Global Miranda Miner Group, established in 2021, is a registered and incorporated company under the Securities and Exchange Commission in the Philippines. Rooted in the principle of “Culture of Malasakit,” GMMG specializes in crypto education and effective trading systems. By fostering profitable setups and behaviors within the trading community, GMMG not only aims to transform traders but also advocates giving back to their communities.

GMMG’s comprehensive services include Elite University, a crypto education platform with courses, virtual bootcamps, 1:1 mentoring, and daily YouTube livestreams. These platforms enable them to share valuable trading techniques, expert advice, and the latest news in the crypto world.

For more information, visit globalmirandaminer.com. If you want to invite us to your school or university, contact us via sales@globalmirandaminer.com.

Conclusion

The Philippine crypto community’s supportive response to the Bangko Sentral ng Pilipinas’ proposed regulatory updates reflects a growing commitment to long-term market stability. By pairing stricter oversight on virtual asset service providers with proactive, industry-wide investor education, market leaders are laying the groundwork for a safe digital asset environment. As global markets gain momentum, balancing regulatory compliance with user literacy will remain essential to protecting retail investors and integrating digital assets into mainstream domestic finance.

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Key Phrases

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  2. Virtual Asset Service Provider VASP rules Philippines
  3. Global Miranda Miner Group GMMG crypto education
  4. Arlone Abello IMPACT crypto traders Philippines
  5. Operator of Payment Systems OPS registration freeze
  6. Philippine crypto market adoption statistics
  7. GCrypto PDAX crypto roundtable Manila
  8. Bitcoin price surge risk management trading
  9. Financial literacy unbanked population Philippines
  10. Traceable digital asset transactions BSP circular

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