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Philippines central bank warns (again) about unregistered crypto exchanges

Philippines central bank warns (again) about unregistered crypto exchanges

The Bangko Sentral ng Pilipinas (BSP) has issued a memo warning banks to be more stringent when dealing with cryptocurrency businesses. The regulator urged commercial banks to be strict with their risk management protocols when dealing with crypto exchanges to prevent money laundering and terrorist financing through cryptos.

30 JULY 2019

Philippines Central Bank Warns on Risks of Growing Cryptocurrency Use

Philippines Central Bank Warns on Risks of Growing Cryptocurrency Use

The chief of the Philippines central bank has warned over the risks of growing cryptocurrency use in the country.

13 JUNE 2019

Philippines Now Has 10 Approved Crypto Exchanges

Philippines Now Has 10 Approved Crypto Exchanges

The Philippines is catching up to Japan with a growing number of approved cryptocurrency exchanges. The central bank has green-lighted 10 crypto exchanges so far. Meanwhile, one of the country’s largest banks now has a bitcoin ATM at one of its main branches. In addition, the Cagayan Economic Zone Authority has independently licensed 24 crypto exchanges.

11 APRIL 2019

Philippine Securities Regulator Postpones ICO Regulation Release

The Philippines Securities and Exchange Commission (PSEC) is not ready to issue final initial coin offering (ICO) regulation. The legislation was meant to be released before the end of 2018, English-language local media The Philippine Star reports on Dec. 31.

2 JANUARY 2019

Manila Residents Paid in Ethereum For Cleaning Up Philippines’ Polluted Beaches

A decentralized application (dApp) based on the Ethereum (ETH) network will begin rewarding residents of Manila, the Philippines, with ETH for cleaning up a heavily polluted beach in the capital city of the nation.

29 NOVEMBER 2018

19 Companies Licensed to Operate Crypto Exchanges in Philippine Economic Zone

Nineteen firms have been granted provisional licenses to operate crypto exchanges by the Philippine government-owned Cagayan Economic Zone Authority. In addition, eight firms have paid the application fees and are being reviewed. A list of all 27 companies has been published.

16 OCTOBER 2018

Boxing Legend and Philippine Senator Manny Pacquiao to Launch PAC Token

Eight-time division world boxing champion and Philippine Senator Manny Pacquiao will formally launch his PAC Token, which is powered by GCOX. The coin will be introduced at the upcoming Blockchain Fair Asia 2018 to be held in Manila, the Philippines, on October 11-12 this year.

7 OCTOBER 2018

Philippines, Korea, and Thailand Move to Create the Next Crypto Valley

The Philippines, Thailand, and South Korea are moving towards creating the next crypto valley, after recognizing the success of Malta and Zug, Switzerland in creating crypto and blockchain friendly environments.

25 AUGUST 2018

Philippines' Proposed ICO Rules Presume All Tokens Are Securities

The Philippines is close to introducing new regulations governing how companies can legally raise funds through initial coin offerings (ICOs).

2 AUGUST 2018

The Philippines Wants to Earn $67 Million By Crypto Exchange Licensing

A government authority that governs the Philippines Cagayan Special Economic Zone and Freeport is aiming to earn $67 million just by issuing cryptocurrency exchange licenses.

11 JULY 2018

Philippines to Issue 25 Cryptocurrency Exchange Licenses in Economic Zone

The administrator of a government-controlled economic zone in the Philippines has revealed plans to issue 25 licenses to cryptocurrency exchanges.

2 JULY 2018

Exclusive: Crypto is the Future, Union Bank Head Asserts

Edwin Bautista, head of Union Bank of the Philippines, is a firm believer in cryptocurrencies and blockchain. He says his bank is considering the acceptance of Bitcoin and other virtual currencies as payment options.

9 MAY 2018

Philippines Legalizes Cryptocurrency Exchanges in Economic Zone

The Philippine government is welcoming nearly a dozen cryptocurrency companies to operate in a special tax-friendly economic zone situated in close proximity to a number of neighboring countries.

26 APRIL 2018

Philippines Lawmaker Urges Senate to Expedite Crypto Crime Bills

A Philippines lawmaker is seeking to speed up the passage of legislation that would increase the penalties for crimes involving cryptocurrencies.

17 APRIL 2018

Philippines’ SEC Demands Crypto Cloud Mining Contracts To Be Registered As Securities

The Philippines Securities and Exchange Commission (SEC) issued an advisory on Cryptocurrency Cloud Mining Contracts that applies the Howey Test to classify these contracts as securities, the SEC outlined April 10.

11 APRIL 2018

Philippines: Senator Proposes Stricter Penalties For Crimes Involving Crypto

Philippine Senator Leila de Lima has filed a bill to impose stricter penalties for cryptocurrency-related crimes, due to the complexity of the investigation process, according to a press release from the Philippine Senate published Tuesday, March 13.

15 MARCH 2018

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