SEC Advises Public to be Cautious on Crypto Investments
This month alone, the SEC already flagged 4 entities that are leveraging the emerging market of cryptocurrency and play-to-earn games.
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SEC Issues Advisory Against “Future Farming”
The SEC is emphasizing that Future Farming is not registered as a corporation or partnership and is not authorized to solicit, accept or take investments from the public nor to issue investment contracts.
PayMaya and Facebook Novi Philippines Receive Virtual Currency Exchange License from the BSP
(Update April 5, 2022) PayMaya Crypto Function is Now Live! By Shiela Bertillo Mobile e-wallets Paymaya and Novi Philippines Inc. are now added to the list of firms licensed by the Banko Sentral ng Pilipinas (BSP) as Virtual Asset Service Providers (VASP). The firms were added to the latest list published by the central bank…
SEC Issues Advisory against CryptoPayz
Accordingly, the SEC advised the public not to invest or stop investing in CryptoPayz and in all other entities promoting or applying the same or similar scheme.
SEC Issues Advisory Against TuneGaga
The Commission also indicated that the names involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
![[Interview] UnionBank Assures It’s Still the Most Crypto-Friendly Bank in the Philippines Amid Reports of Account Closures on Social Media](https://bitpinas.com/wp-content/uploads/2022/01/Website-Blog-Post-5-1-768x402.png "[Interview] UnionBank Assures It’s Still the Most Crypto-Friendly Bank in the Philippines Amid Reports of Account Closures on Social Media 5")
Feature | News | Regulation
[Interview] UnionBank Assures It’s Still the Most Crypto-Friendly Bank in the Philippines Amid Reports of Account Closures on Social Media
“We remain the only bank with real links to crypto exchanges and open to retail accounts and traders,” Arvie de Vera of UnionBank said in a phone interview.
SEC Warns Public Against Investment Scheme “CRYPTOSTAKERS”
Recently, the SEC also flagged 2 entities leveraging on the emerging market of cryptocurrency and play-to-earn games.
SEC Issues Advisory Against Outrace Play-to-earn
SEC also emphasized that OUTRACE is not registered as a Virtual Asset Service Provider (VASP) with the Bangko Sentral ng Pilipinas (BSP).
SEC Naglabas ng Abiso Laban sa ‘Crypto Asset’ Trading Entity
Translated from: SEC Issues Advisory Against ‘Crypto Asset’ Naglabas ang Securities and Exchange Commission (SEC) ng isang abiso sa publiko na maging maingat sa pakikipag-transaksyon sa indibidwal o grupo ng mga tao na nanghihingi ng mga investment sa ngalan ng crypto trading entity na ‘Crypto Asset’. Binigyang-diin ng SEC na ang Crypto Asset ay hindi…
BSP Reminds Banks to Treat Customers Fairly
Further, the memo pointed out that banks are required to exercise a “high degree of diligence” as jurisprudence charges banks with the “obligation to treat their client’s account with the highest degree of care.”