From two crypto events and then updates from local blockchain startups. Here’s what happened in Crypto PH from Jan. 22 to 28, 2024.
The applications represent the first spot Bitcoin ETFs to receive regulatory approval in the U.S.
This is detailed in Memorandum No. 2023-035 from the Office of the Deputy Governor, Payments and Currency Management Sector, the contents of which are released today in the BSP website.
Asset ownership, often called the most important contribution of blockchain to video games, is still regarded as the top advantage of using blockchain in games.
The SEC Commissioner also clarified whether the period will be extended, as well as the status of other unregistered exchanges, on whether they will be blocked as well by the NTC.
The Digital Asset Security Service Provider Rules of the SEC will be different from the Virtual Asset Service Provider Rules of the BSP.
The revocation is noteworthy given that BEXPRESS, INC. was among the limited circle of only 19 entities in the Philippines holding a VASP license.
Update: Binance says that under its new leadership, it will take steps to address the SEC’s concerns.
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.
This initiative is part of the SEC’s broader strategy to safeguard investors from potential risks associated with unregulated digital asset platforms.