Crypto in the Philippines follows BSP and SEC rules, depending on the company and the service it offers.
Risk Crypto-assets are highly volatile and you can lose all the money you put in. Use only platforms registered with the BSP/SEC. This is not a recommendation to buy.
Short answer Before using a crypto platform in the Philippines, identify the legal company behind the app, check that company in the BSP Verifier and the BSP or SEC register that applies to its activity, and read the current status rather than relying on a logo or advertisement. The BSP list dated July 15, 2026 has eight active VASPs and one provider marked inactive or not operational.
At a glance
- BSP VASP list8 active providers and 1 inactive or not operationalBSP list ↗ ·
- Active non-bank VASPs6BSP list ↗ ·
- Active bank VASPs2BSP list ↗ ·
- New BSP VASP licencesmoratorium continues from September 1, 2025, subject to reassessmentBSP M-2025-031 ↗ ·
- Verifier scopea public guide to registration or supervision, not a safety ratingBSP Verifier ↗ ·
Who regulates what
The BSP describes a VASP as an entity that facilitates the transfer or exchange of virtual assets. Its July 15, 2026 directory separates active non-bank VASPs, active bank VASPs and one non-bank VASP that is inactive or not operational.
The SEC separately regulates crypto-asset service providers and investment activity. BSP Memorandum M-2026-003 tells BSP-supervised financial institutions to deal only with VASPs authorised by the BSP, CASPs authorised by the SEC, and appropriately authorised foreign counterparties. The memorandum also says direct access by Philippine retail customers to offshore VASPs is not allowed unless the provider is registered with the BSP or SEC.
This split matters. A company registration, app-store listing or foreign licence is not the same as Philippine authority for the service offered to Philippine residents.
The BSP list at a glance
| Status | Institution shown by the BSP | Type |
|---|---|---|
| Active | Betur Inc. (COINS.PH) | Non-bank VASP |
| Active | Maya Philippines, Inc. | Non-bank VASP |
| Active | Moneybees Forex Corp. | Non-bank VASP |
| Active | Philippine Digital Asset Exchange (PDAX) | Non-bank VASP |
| Active | TopJuan Technologies Corporation | Non-bank VASP |
| Active | WIBS PHP, Inc. | Non-bank VASP |
| Active | GoTyme Bank Corporation | Bank VASP |
| Active | Union Bank of the Philippines, Inc. | Bank VASP |
| Inactive or not operational | Direct Agent 5 (SurgePay mobile app) | Non-bank VASP |
For the full row-by-row directory, heads and cities, see our BSP-registered VASP list.
How to check a platform before sending money
- Find the legal name. Open the platform’s terms, privacy notice or company details. A brand name may differ from the legal entity in the register.
- Check the BSP list. Read the heading and status beside the legal name. A row under “inactive or not operational” is not an active authorisation.
- Use the BSP Verifier. Search the company and choose the relevant category. The BSP says the tool is a public guide and does not assess financial soundness or guarantee safety.
- Check the SEC when the service is under SEC supervision. Do not treat a BSP entry as permission for every investment product a company may advertise.
- Match the website and app. Use the official domain or app-store publisher linked by the institution. Scam pages can copy a registered company’s name.
- Read the transfer screen. Check fees, network, wallet address and minimum amount before confirming. Crypto transfers are often irreversible.
Warning A real regulator entry can be copied into a fake advertisement. Registration checks the legal entity and status; it does not verify a social-media account, private chat or person asking you to transfer funds.
What the BSP Verifier does and does not do
The BSP Verifier helps the public check whether a financial institution is registered with or supervised by the BSP. It also explains common scams and official reporting channels.
The BSP says the tool covers main offices or headquarters, not every branch. It also says a missing name does not automatically prove a scam: the institution could be new, renamed, closed, merged or supervised by another regulator. That is why the legal name, regulator and exact service all need to match.
The verifier is not a rating. It does not promise that a platform is financially sound, that a token will keep its value or that a transaction can be recovered.
Why the moratorium matters
BSP Memorandum M-2025-031 says the Monetary Board approved continued enforcement of the moratorium on new VASP licences from September 1, 2025, subject to reassessment. The memorandum cites consumer-protection and cybercrime concerns.
A platform claiming a new BSP VASP licence should therefore be checked carefully against the current BSP list and verifier. Do not rely on an undated screenshot.
Banks, offshore platforms and direct access
BSP Memorandum M-2026-003 requires BSP-supervised financial institutions to verify the authority and risk controls of VASP counterparties. It tells them to deal only with authorised BSP VASPs, authorised SEC CASPs, appropriately authorised offshore VASPs and other licensed foreign counterparties.
For Philippine retail customers, the same memorandum says direct access to offshore VASPs is not allowed unless the provider is registered with the BSP or SEC. A platform’s overseas licence alone does not answer the Philippine registration question.
If something goes wrong
First report the transaction to the platform, bank or e-money issuer and save the case reference. The BSP Verifier’s reporting guide says BSP Online Buddy can be used for complaints involving BSP-regulated institutions after the consumer has first filed with the institution.
Keep these records:
- the legal name and website used;
- transaction ID, wallet address and blockchain network;
- date, time, amount and fee;
- screenshots of the confirmation screen;
- the institution’s complaint reference;
- messages from anyone who directed the transfer.
Do not send a second payment to “unlock” or “recover” the first one.