BSP Cancels Licenses Of Two Firms

The Bangko Sentral ng Pilipinas (BSP) has canceled the registration of two firms to operate as virtual asset service providers (VASP).

The Monetary Board has revoked the Certificates of Registration of B-Express, Inc. and Coinville Phils., Inc. I Photo: Coinville Phils., Inc. Facebook

The Monetary Board has revoked the Certificates of Registration of B-Express, Inc. and Coinville Phils., Inc., according to circular letters dated Dec. 1 and signed by BSP Deputy Governor Chuchi G. Fonacier.

B-Express, a crypto company based in South Korea, received a virtual currency license from the BSP in March 2019, allowing the firm to engage in crypto-to-fiat transactions in the Philippines.

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