LYKA was set to “immediately” open its own office in the Philippines. LYKA – The social media platform has decided to “immediately” open its own office in the Philippines as the Bangko Sentral ng Pilipinas (BSP) upheld its cease and desist order against the company. LYKA’s decision, which will allow the company to “move closer” … Read more
The BSP was calling for a strong law against coin hoarding in the Philippines. BSP — The Bangko Sentral ng Pilipinas was calling for a strong law against coin hoarding in the Philippines following law enforcers’ crackdown of some PHP 50-million worth of bagged 1-piso coins in a warehouse in Quezon City. In a statement, … Read more
The BSP will impose limits on online payment charges, according to Diokno. On Tuesday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that they could impose limits on how much operators of payment system (OPS) were charging for their service. Diokno was asked in a webinar organized by the Management Association of the Philippines … Read more
The P20 New Generation Currency (NGC) banknote remained legal tender, according to BSP. On Monday, the Bangko Sentral ng Pilipinas (BSP) advised the public that the P20 New Generation Currency (NGC) banknote remained legal tender and could be used for transactions alongside the P20 NGC coins. GMA News Online reported that the P20 NGC banknotes … Read more
The BSP supported a Senate bill protecting financial accounts from cybercrime. BSP — The Bangko Sentral ng Pilipinas said on Saturday that it supported a Senate bill aiming to protect financial accounts from cybercrime. This, as digital transactions in the Philippines continued to increase because of the pandemic. BSP said in a statement that the … Read more
Axie Infinity was not considered as a virtual asset service provider, according to BSP. The Bangko Sentral ng Pilipinas (BSP) said that popular online play-to-earn game Axie Infinity wasn’t considered as a virtual asset service provider (VASP). Manila Bulletin reported that the Bangko Sentral ng Pilipinas emphasized in an email interview with Business Bulletin that … Read more
BSP encouraged LYKA to get a license to “keep things in order”, according to Diokno. On Monday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that it encouraged LYKA to get a payment operator license in order to “keep things in order”. Earlier, the central bank ordered LYKA to suspend its operation in the … Read more
The BSP ordered LYKA to halt its operation as an Operator of Payment System. On Friday, the Bangko Sentral ng Pilipinas (BSP) had issued an order to social media platform LYKA to halt its operation as an Operator of Payment System (OPS). In a statement, the BSP had issued an order to LYKA to suspend its … Read more
BSP unveiled PHP 5,000 Lapulapu banknote and Lapulapu commemorative medal. In honor of the 500th anniversary of Lapulapu’s victory in the Battle of Mactan, the Bangko Sentral ng Pilipinas (BSP) on Monday officially launched a commemorative PHP 5,000 banknote and a commemorative medal. The banknote launch also kicked off a 99-day countdown to the actual … Read more
BSP revealed its new logo and will reveal the details on January 2021. The Bangko Sentral ng Pilipinas (BSP) had recently introduced its new logo which would replace the current logo starting January 2021. This, as BSP said that the implementation of the said logo will be done in phases, adding that details of which … Read more