The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), has released a public warning stating that the general public should not deal with virtual asset service providers (VASPs) that are either unregistered or domiciled abroad. As per the official website, 19 VASPs have been registered as of June. Furthermore, the bank also warned that the government does not guarantee any protection against financial losses stemming from Crypto volatality.