[Philippine Central Bank Plans to Suspend New Registrations for Payment System Operators for 12 Months, Tightens Regulation on Virtual Asset Service Providers] Odaily Planet Daily News: The Philippine Central Bank, Bangko Sentral ng Pilipinas (BSP), plans to suspend the acceptance and processing of new registration applications for Payment System Operators (OPS) for 12 months to conduct a comprehensive review of the relevant classification and licensing framework. Applications submitted before the suspension will still be evaluated but will not be approved or rejected until the suspension period ends. Unless otherwise authorized by the regulatory body, relevant entities are prohibited from engaging in business activities requiring OPS registration. Merchant acquirers regulated by BSP that serve regulated Virtual Asset Service Providers (VASPs) must collaborate through direct merchant arrangements and implement enhanced due diligence, ongoing monitoring, transaction and settlement limits, and other risk-based control measures. Relevant VASPs must obtain licenses, registrations, or authorizations from BSP, the Philippine Securities and Exchange Commission, or other agencies. If the draft is approved, it will take effect 15 days after publication. BSP is currently soliciting public feedback. (Cointelegraph)