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 2")
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[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.”
SEC Issues Advisory Against ‘Crypto Asset’
SEC stressed that Crypto Asset is also not registered as a Virtual Asset Service Provider (VASP) with the Bangko Sentral ng Pilipinas (BSP) and does not have a corresponding Certificate of Authority as a Money Service Business.
BSP: Cryptocurrency Role Seen Growing in Remittances, Gaming
“We have also seen a number of remittance companies now using crypto to remit money instead of using the traditional clearing and settlement models.”
BSP, SEC Hindi Hinihikayat Ang Publiko na Mag-invest sa Crypto
Ang pagkakaroon ng regulasyon ay hindi nangangahulugan na ating iniendorso ang cryptocurrency bilang legal tender o ‘storage of value’.
BSP Kinumpirmang Mayroon Silang Espesyalista sa Crypto
Sa usapin naman ng abilidad ng kanilang grupo, siniguro ni Plabasan na meron silang mga tinatawag na ‘ethical hackers’, mga data scientist, at mga sanay na espesyalista.