Philippines: Announcement of local operations requirements on digital banking for foreign investors
Description
Announcement of local operations requirements on digital banking for foreign investors
In December 2020, the Philippines announced introducing restricted measures on digital banking by requiring a local presence in the Philippines.
Original sourceScope
Policy Area
Other operating conditions
Policy Instrument
Local operations requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank