BSP Expects Increase in Cryptocurrency Transactions in the Philippines
The total transaction volume from January to September 2020 was 7.2 million. This is a 36% increase versus the volume recorded within the same period in 2019 (5.3 million).
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BSP Sets Up New Physical, Digital Payments Unit, Names New Deputy Governor
BSP is tasking the new unit to address the interplay between digital money and physical currency, as well as support the Philippines’ digital transformation of its financial services.
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SEC Advisory Against BitAccelerate, Jams Mart, Solmax Global, Igniter 100
The SEC has issued an advisory against multiple crypto, crowdfunding, and franchising schemes for operating without the necessary licenses and authority to solicit investments from the public.
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Feature | Interview | News | Regulation
Bangko Sentral ng Pilipinas | 2020 Year in Review
In this exclusive interview with BitPinas, the BSP discussed the challenges of 2020, its position on cryptocurrencies, virtual asset service providers in the country, and the key benefits for international crypto companies if they register in the Philippines.
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Insights on BSP Guidelines for Virtual Asset Service Providers by Atty. Rafael Padilla
In this whitepaper, Atty. Rafael Padilla, Co-Founder and Trustee of BlockDevs Asia and Professor of Law at San Beda Alabang, examines the updated guidelines for virtual asset service providers released by the Bangko Sentral ng Pilipinas.
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How to Get a VASP License in the Philippines for Crypto Exchanges
How much is required to obtain a crypto exchange license in the Philippines? What are the other requirements for the VASP license?
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House Consolidates Central Bank Digital Currency, E-Payment Bills
Rep. Cua said that currently, what the Philippines have is a patchwork of digital payment platforms and electronic money systems operated by private entities like banks.
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Legal and Regulatory Aspects of Stablecoins by Atty. Rafael Padilla
While the use of stablecoins could implicate several aspects of the law, three areas attained some level of prominence within legal and policy circles: securities regulation, anti-money laundering (AML), and financial service licensing.
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Feature | News | Regulation
Wedding Bells – The Uneasy Marriage Between the Financial and Crypto Sectors
Over the last few years, the financial and crypto sectors have been on a path best described as an arranged marriage. Some in the crypto industry will lament the loss of independence, but the consolidation within the ecosystem will drive interoperability and standards.
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Key Highlights of the Blockchain Digital Technology Act of 2020
October 29, 2020 — Albay Representative and Chairman of the House Committee on Ways and Means filed House Bill 7864, also known as the “Blockchain Digital Technology Act” which aims to identify the uses of blockchain technology and encourage its use in the broader economy.
