Bitcoin Philippines | Blockchain News Philippines | Cryptocurrency News
All things regulatory and compliance.
BSP is tasking the new unit to address the interplay between digital money and physical currency, as well as support the Philippinesā digital transformation of its financial services.
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The SEC has issued an advisory against multiple crypto, crowdfunding, and franchising schemes for operating without the necessary licenses and authority to solicit investments from the public.
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In this exclusive interview with BitPinas, the BSP discussed the challenges of 2020, its position on cryptocurrencies, virtual asset service providers in the country, and the key benefits for international crypto companies if they register in the Philippines.
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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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This article highlights what we think are key takeaways from the new BSP guidelines, which are based on FATF recommendations and risk management principles.
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Rep. Cua said that currently, what the Philippines have is a patchwork of digital payment platforms and electronic money systems operated by private entities like banks.
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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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Over the last few years, the financial and crypto sectors have been on a path best described as an arranged marriage. Some in the crypto industry will lament the loss of independence, but the consolidation within the ecosystem will drive interoperability and standards.
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October 29, 2020 — Albay Representative and Chairman of the House Committee on Ways and Means filed House Bill 7864, also known as the āBlockchain Digital Technology Actā which aims to identify the uses of blockchain technology and encourage its use in the broader economy.
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A key benefit of a CBDC, Gov. Diokno said, is the reduction in the need to print physical cash, which could then lead to cost savings for the central bank.
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