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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.