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Philippines Crypto & Blockchain News Roundup: April 2023

April Crypto News Philippines Roundup

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The month with arguably the most number of holidays outside Christmas is over. For us at BitPinas, April was a time to recharge and figure out where we are headed for the rest of the year. I have observed it was the same for many in crypto as well, but I vividly remember a meeting with a local company, who still had news to share just before Maundy Thursday!

  • In the global front, we see the battle between the U.S. crypto companies and the U.S. Securities and Exchange Commission play out very publicly. 
  • In the world of crypto, Bitcoin has regained the $30,000 level, while Ether benefitted (surprise! Ether bears) from the Shapella upgrade.
  • Lots of events in the Philippines, but noteworthy is the launch of GCrypto, GCash’s crypto offering, to more people.

More of that in today’s April news roundup in cryptocurrency in the Philippines and abroad.

Regulatory Updates

BitPinas-SEC-NEWS-1

In the Philippines, the Securities and Exchange Commission continues its crusade against scammers. 

Elsewhere, the animosity between crypto companies and the U.S. SEC continues. Chairman Garly Gensler was grilled in the U.S. Congress, and can’t answer (or rather refused to answer) whether ETH is a commodity or a security.

  • So in the meetup we attended organized by Bloomberg, we asked Binance and YGG what they think of ETH. Is it a commodity or a security?
  • Coinbase, the most regulated crypto exchange in the world has now sought the help of U.S. courts to compel Gensler’s Commission to clarify crypto rules.
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Meanwhile, in Europe, the European Union (EU) has established the Markets in Crypto-Assets (MiCA) regulation, which aims to regulate the issuance and provision of crypto assets and stablecoin services. Simply put, EU is providing clarity that the U.S. could not.

Last on our list, it seems the Philippine Supreme Court is looking into blockchain too:

Industry Developments

Ely Buendia NFT to be minted on Mintoo
Ely Buendia NFT will be available on Mintoo.

April might be a short month, but there were a lot of developments in the local blockchain scene.

NFTs are taking center stage in the mainstream. 

  • Actress Bella Padilla is making an NFT film.
  • OPM icon and Eraserheads vocalist Ely Buendia is making an NFT too, available on Mintoo.
  • Acadarena alum and now head of esports and web3 agency Metasports Joe Josue has salvaged what’s left of Kusho, the original Pinoy-NFT anime project left by its original founding team. Check out our interview.
  • GCash entered the NFT scene via partnership with Likha.
  • Bayckada, the local group of Bored Ape Yacht Club (BAYC) holders utilized their Bored Ape IP for a charity event in Manila.
  • Filipinas NFT has launched its “Walang Katulad” Collection on Mintoo.
  • Also on Mintoo, check out our interview with artists who sold out on the platform.
  • A Filipino couple hosted a first-of-its-kind AR and NFT wedding.

Elsewhere, here are some notable news in the Philippine crypto scene.

Photo for the Article - Philippines Crypto & Blockchain News Roundup: April 2023
Photo Credits: Carlos Payumo

Finally, the Department of Health finally made it to BitPinas not because they are going to “blockchainize” the agency. But because their Twitter account suffered a “glitch” (they said). TLDR: The account said it would “PUMP ETH”.

  • Department of Health Philippines’ Twitter account Briefly Hacked, promoting fake Uniswap airdrop.
  • Users have raised concerns over the DOH Twitter account still actively promoting crypto and posting phishing ads despite claims that they are “in control” of the account.

Market Trends

Photo for the Article - Philippines Crypto & Blockchain News Roundup: April 2023

Bitcoin ended the month at $29,362. Up from March’s close at $28,041. The most important thing here is that it finally breached past $30,000, the first time since June of last year. Check out our articles:

Next, everyone predicted that Ether’s price will decline because millions of ETH will be withdrawn the moment the Shapella upgrade hit. Shapella arrived and Ether’s price did the other way.

Events & Conferences

Coindesk just completed the annual Consensus event in Texas. This is arguably the most important crypto event every year. You can check out some of the videos here.

In the Philippines, check out some of the events we listed on the BitPinas events page.

Binance and YGG had co-organized a number of University Tours this month. BitPinas was invited to Binance/YGG co-organized event presented by Bloomberg. We have one article about the event here:

Finally, Draper Startup House Manila and BitPinas co-organized BBB Presents GCrypto – GCash NFTs!

Photo for the Article - Philippines Crypto & Blockchain News Roundup: April 2023

What’s Next?

As we head into May, we expect more updates about GCash NFTs and some new developments from the major crypto exchanges in the country. 

For more on the latest news on cryptocurrency in the Philippines always check out BitPinas.

This article is published on BitPinas: Philippines Crypto & Blockchain News Roundup: April 2023

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.