The Crypto Roundtable brings together industry leaders and participants to discuss market literacy and the Philippine digital asset market
The Bangko Sentral ng Pilipinas (BSP) has proposed a 12-month freeze on new payment system operator registrations and tighter controls on virtual asset service providers (VASPs). The Philippine crypto trading community, represented by Global Miranda Miner Group (GMMG), says the move shows the local crypto market is maturing, and that it should come with stronger market literacy.
What is the proposal? According to the BSP’s draft circular, released for consultation earlier in September, new registrations of Operators of Payment Systems (OPS) would be suspended for 12 months while the central bank reviews its licensing framework. Payment firms would also be required to deal with regulated VASPs only through direct arrangements, with enhanced due diligence, monitoring, and transaction and settlement limits.
[L-R] Arlone Abello (Coach Miranda Miner), CEO of Global Miranda Miner Group; Patrick Lao, Head of Retail at PDAX; John Garcia, Head of Strategic and Market Education Ventures at GCash; and Alden Yburan, Head of GCrypto, at The Crypto Roundtable
Who said the community welcomes it? Arlone Abello, CEO of GMMG and Founding Chairman of the Innovative Movement of the Philippine Association of Crypto Traders (IMPACT), spoke at The Crypto Roundtable on 30 September 2026. The panel also included John Garcia, Head of Strategic and Market Education Ventures at GCash, Alden Yburan, Head of GCrypto, and Patrick Lao, Head of Retail at PDAX.
Why does the community support it? “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.”
Does regulation mean crypto is risk-free? No. 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, so education is an important complement to regulatory oversight.
How big is the market? About 10% of Filipinos now use crypto, and users are projected to reach nearly 12.8 million this year. 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.
What happens next? GMMG will continue working with industry partners and regulators to expand education in technical analysis, risk management, market behavior and disciplined trading. The next edition of The Crypto Roundtable will be held in November 2026, and details will be posted at globalmirandaminer.com.
GMMG CEO Arlone Abello shares insights in a panel discussion on crypto identity, financial and market literacy