Lodicoin, Meet Securities Law
The SEC’s Advisory against Lodicoin demonstrates how first principles of securities law apply to new paradigms in financial technology.
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Author: Atty. Rafael Padilla
VASP-Licensed Bexpress Publishes Position on Digital Assets Act of 2022
Bexpress, operating as Bexpress/Bexpro is a licensed virtual assets service provider (VASP) in the Philippines.
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Who Should Regulate VASPs in the Philippines?
I’m Rafael Padilla, Convenor of BayWatch, a policy think trunks focused on crypto-related policy issues and exotic beaches. We write below our position on the Binance controversy.
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Free Money: The Constitutional Aspects of Cryptocurrencies
In this paper, Atty. Rafael Padilla looked at the constitutional aspects of cryptocurrencies and why it is legally impossible to ban them.
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Insights on BSP Guidelines for Virtual Asset Service Providers by Atty. Rafael Padilla
In this whitepaper, Atty. Rafael Padilla, Co-Founder and Trustee of BlockDevs Asia and Professor of Law at San Beda Alabang, examines the updated guidelines for virtual asset service providers released by the Bangko Sentral ng Pilipinas.
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2020 Cryptocurrency Regulation in the Philippines Recap
A key highlight for 2020 is the vigilance of the Securities and Exchange Commission (SEC) in issuing advisories and cease and desist order, and in taking other enforcement actions against cryptocurrency-related investment scams, Forsage being the largest and most high-profile among them.
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Counterweight: The Case for Bitcoin as Central Bank Reserve Asset by Atty. Rafael Padilla
Rafael proposes that bitcoin, a new asset class, should be considered as a strategic reserve asset that can function as systemic hedge that will help maintain financial stability amid the economic havoc that is COVID-19 Pandemic, and to insulate the domestic financial system from the vulnerabilities of the current U.S. dollar-centric international monetary system.
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Legal and Regulatory Aspects of Stablecoins by Atty. Rafael Padilla
While the use of stablecoins could implicate several aspects of the law, three areas attained some level of prominence within legal and policy circles: securities regulation, anti-money laundering (AML), and financial service licensing.
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DeFi, Law and Regulation by Atty. Rafael Padilla
In a paper published by Atty. Rafael Padilla, Co-Founder and Trustee of BlockDevs Asia and Professor of Law at San Beda Alabang, the application of blockchain and smart contracts in finance gives financial regulators no choice but to revisit existing rules and, at the same time, assess their relevance in the world of Decentralized Finance (DeFi) and open finance.Â
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2019 Regulatory Developments on Crypto & Blockchain in the Philippines
By Atty. Rafael Padilla: For the legal nerds, this year’s centerpiece is R.A. 11453, the Amended AFAB Charter. This new law which was enacted by Congress last August 2019 quietly introduced the term “cryptocurrency” for the first time in the Philippine legal system.
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