BSP Revokes VASP Crypto License of Coinville, 2nd Canceled License This Quarter
Coinville was listed as an inactive VASP by the BSP in August 2023.
Coinville was listed as an inactive VASP by the BSP in August 2023.
The Digital Asset Security Service Provider Rules of the SEC will be different from the Virtual Asset Service Provider Rules of the BSP.
The revocation is noteworthy given that BEXPRESS, INC. was among the limited circle of only 19 entities in the Philippines holding a VASP license.
Update: Binance says that under its new leadership, it will take steps to address the SEC’s concerns.
This move comes just after the SEC recently said it will start naming unlicensed exchanges in its advisories going forward, as well as working with the National Telecommunications Commission (NTC) to block access to the exchanges’ websites.
This initiative is part of the SEC’s broader strategy to safeguard investors from potential risks associated with unregulated digital asset platforms.
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