Ripple Converses with PH regulators, says Managing Director
“We do speak with the regulators, the Philippines included, we sometimes do that directly,” said Entwistle, while also noting that sometimes it is their partners who talked to regulators.
SEC Releases Advisory Against Non-Registered Foreign Entities, Including Play-to-Earn Platforms
However, SEC says that the decision still remains on the individual if it would transact with these entities and use their platforms.
BSP, SEC: Axie Infinity Aren’t Required to Register Yet
Is Axie Infinity a scam? This is what BSP Director Mhel Plabasan said over the weekend.
Commissioner Kelvin Lee: SEC is Merely Emphasizing that the Public be Careful
Commissioner Lee reiterated that the public must be vigilant and careful as the Philippine law still offers minimal recourse or protections regarding the cryptocurrency industry.
Department of Finance: Axie Infinity Creator Off to a Good Start
The Department of Finance (DOF) Secretary Carlos G. Dominguez III said that Sky Mavis, the Vietnamese company of Axie Infinity, has gotten off to a “good start” after it encouraged its players to abide by the laws of their respective countries.
Feature | News | Play To Earn | Regulation
BSP Closely Monitors Local Axie Infinity SLP Merchants System
According to the central bank, Axie Infinity owned by Vietnam-based Sky Mavis, “is not considered as VASP” or virtual asset service provider.
National Privacy Commission Orders Immediate Takedown of Four Online Lending Apps
The lending apps are now being probed for their alleged unauthorized and “excessive” use of borrowers’ personal data.
Fintech | News | Regulation
SEC Pushes For Balance in Fintech Regulation Beyond COVID-19
Commissioner Lee acknowledged that regulating fintech is challenging because it entails foreseeing the risks and making room for them in order to encourage innovation.
SEC is Investigating Regulatory Touchpoints Regarding Axie Infinity
Axie Infinity has been in the news lately in the Philippine mainstream media after reports about Filipinos who lost their jobs have effectively survived the pandemic by playing the game.
BIR, DOF are Looking Into Axie Infinity, Earnings are Taxable says Finance Undersecretary
An independent estimation reveals that Php 2 billion was remitted to the Philippines last July via earnings by Filipinos playing Axie Infinity.