The BSP regulatory framework eases the banking system’s transition to the digital economy by enabling solutions under the regulatory sandbox. Forthcoming regulatory solutions include cloud computing, enhanced guidelines on e-money, virtual currency, open banking and application programming interface (API) standardization, and cybersecurity.
On the part of the BSP, we are building the competency of our bank supervisors to be able to effectively monitor cyber threats and vulnerabilities among banks and implement supervisory measures accordingly. The BSP has set its strategic priorities toward a sound, stable, resilient and inclusive banking 6/7  BIS central bankers' speeches  system.