International cooperation  Page 2 of 7  International forums such as the G201 and BRICS2 continue to give attention to initiatives aimed at supporting stronger, more sustainable, balanced, and inclusive growth. As part of that, the G20 and BRICS also give much attention to improving the resilience of the global financial system.
The proposed circular focuses on the guidelines for Virtual Assets (VA) and Virtual Asset Service Providers (VASP), as it aims to enhance the BSP’s regulatory and supervisory response to money service business activities harnessing the technology of virtual currencies (VC), in line with international standards for anti-money laundering (AML) and countering the financing of terrorism (CFT).