SEC Issues Advisory against CryptoPayz
Accordingly, the SEC advised the public not to invest or stop investing in CryptoPayz and in all other entities promoting or applying the same or similar scheme.
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Regulation
All things regulatory and compliance.
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.
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[Interview] UnionBank Assures Itâs Still the Most Crypto-Friendly Bank in the Philippines Amid Reports of Account Closures on Social Media
âWe remain the only bank with real links to crypto exchanges and open to retail accounts and traders,â Arvie de Vera of UnionBank said in a phone interview.
Read more SEC Warns Public Against Investment Scheme âCRYPTOSTAKERSâ
Recently, the SEC also flagged 2 entities leveraging on the emerging market of cryptocurrency and play-to-earn games.
Read more 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).
Read more SEC Naglabas ng Abiso Laban sa âCrypto Assetâ Trading Entity
Translated from: SEC Issues Advisory Against âCrypto Assetâ Naglabas ang Securities and Exchange Commission (SEC)Â ng isang abiso sa publiko
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BSP Reminds Banks to Treat Customers Fairly
Further, the memo pointed out that banks are required to exercise a âhigh degree of diligenceâ as jurisprudence charges banks with the âobligation to treat their clientâs account with the highest degree of care.â
Read more SEC Issues Advisory Against âCrypto Assetâ
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.
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BSP: Cryptocurrency Role Seen Growing in Remittances, Gaming
âWe have also seen a number of remittance companies now using crypto to remit money instead of using the traditional clearing and settlement models.”
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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’.
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