BSP Says They Have Crypto Specialists
“Kumpleto po kami (we are complete) and we keep on hiring good people on our command,” says Melchor Plabasan.
“Kumpleto po kami (we are complete) and we keep on hiring good people on our command,” says Melchor Plabasan.
Nichel Gaba: Is it easier for us to operate while being unregulated? Of course. But is it responsible? We need to be held accountable. We make mistakes.
“To say that we encourage people to invest in crypto is too strong of a statement for me or anyone to make at this point, but the technology is new, it has a lot of potential but at the same time a lot of risk,” Commissioner Lee seconded.
Governor Diokno says the review is still ongoing regarding the use of NFTs as well as the monitoring of the various online gaming platforms.
In cases where NFTs are used in such a way that falls under FATF standards, the body insists that it should still be regulated using a “functional approach.”
Even if the design of DeFi lets transactions happen without intermediaries, anyone behind the DApp would still be responsible for AML checks.
Digicoin Markets International PH, otherwise known as Digicoin Markets, offers investment plans wherein clients are enticed to invest an amount starting from $20 or Php1,000.00 up to $20,000 or Php1,000,000.
BSP Governor Benjamin Diokno noted that taxing digital transactions is universal for both developed and emerging economies like the Philippines, adding that “taxing transactions is better than taxing income.”
The PSE warns investors regarding a fake blockchain investment solicitation program offered by an individual pretending to be employed by the exchange.
The World Investor Week is a global campaign by the IOSCO that encourages securities regulators around the world to put a spotlight on efforts to promote investor protection and financial literacy.