BSP Updates Regulations on Digital Banks
BSP approved changes about digital banks and clarified the processes involved in the new industry.
BSP approved changes about digital banks and clarified the processes involved in the new industry.
Along with the framework, the White House also released an executive order that addresses the same concern.
Binance, in partnership with the Cybercrime Investigation and Coordination Center (CICC) is currently conducting the “Cryptocurrency and Cybersecurity Training Program” in Quezon City today.
The central bank’s Monetary Board approved the Regulatory Sandbox, or Test and Learn Framework, that will run for 12 months.
In Astrazion’s motion to lift the CDO, they said the sale of the tokens to non-members did not constitute sale of investment contracts.
Skymart, Withu, and Spendcash are all online lending operators and were banned by the Commission through the CDO last February 10, 2022.
The government agency has reported that the team behind The Peak Finance Consultancy Services has been offering the public huge returns or profit by investing in the said company.
The law, if passed, will give the Commission jurisdiction and appropriate powers to accomplish this.
Binance General Manager for the Philippines said the crypto industry can greatly benefit the Filipino people.
BSP seeks legislative proposals to regulate digital assets and clear rules defining what it can do.