BSP Delays Central Bank Digital Currency Issuance For Now
A key benefit of a CBDC, Gov. Diokno said, is the reduction in the need to print physical cash, which could then lead to cost savings for the central bank.
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PH SEC Issues Cease and Desist Order to Forsage and its Promoters
SEC said Forsage continued to solicit investments from the public and attempted to discredit the SEC by spreading false information that they are outside the Commission’s jurisdiction.
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Feature | News | Regulation
The FATF Red Flags Report is Reactive Guidance to the Cryptocurrency Industry
The FATF document consists of six red flag indicators that may indicate suspicious activities or attempts to evade law enforcement.
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Feature | News | Regulation
The FATF, Cryptocurrencies, and the Philippines
BitPinas’ introductory article about the Financial Action Task Force or FATF.
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DeFi, Law and Regulation by Atty. Rafael Padilla
In a paper published by Atty. Rafael Padilla, Co-Founder and Trustee of BlockDevs Asia and Professor of Law at San Beda Alabang, the application of blockchain and smart contracts in finance gives financial regulators no choice but to revisit existing rules and, at the same time, assess their relevance in the world of Decentralized Finance (DeFi) and open finance.Â
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SEC Fires New Warning Vs. Bitcoin Revolution
The Commission advised the public to stop investing in any scheme offered by Bitcoin Revolution.
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Mandatory Grace Period for Loans no Longer Applies During GCQ
SEC said the mandatory grace period under the Bayanihan Act shall no longer be applied to loans falling due during the General Community Quarantine (GCQ) or Modified General Community Quarantine (MGCQ) throughout the Philippines starting from June 1, 2020.
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Terrorism Financing Continues Unabated During the Covid 19 Pandemic
This development poses a stronger security threat with the presence of Foreign-Trained-Fighters (FTF) from regional terrorist organizations like the Jemaah Ansharut Daulah (JAD) and the Mujahideen Eastern Timur (MIT) in Mindanao.
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Philippines SEC Advisory on PayAdStars
The scheme of PayAdStars, SEC said, involves the offering and sale of securities in the form of investment contracts to the public.
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OFW Remittances in January to February Climb to US$5.6 Billion
The Bangko Sentral ng Pilipinas (BSP) reported increased OFW remittances in February 2020 at US$2.62 billion, which is 2.6% higher than what was previously recorded in February 2019.
