PH Anti Money Laundering Council Sets its Eyes on Bitcoin and Casinos
The Anti Money Laundering Council expanded its coverage to cash conversions to poker chips & virtual currencies to cover the law against money laundering.
The Anti Money Laundering Council expanded its coverage to cash conversions to poker chips & virtual currencies to cover the law against money laundering.
Amidst the increasing popularity of virtual currencies such as bitcoin, cash is still king in the Philippines according to BSP Governor Nestor Espenilla.
The Philippine Securities and Exchange Commission determined that cloud mining contracts are “securities” and must therefore be duly registered.
The Philippine Central Bank is urging the public to exercise “extreme caution” in dealing with bitcoin and other virtual currencies.
The number of virtual currency exchange applications have increased, according to the Bangko Sentral ng Pilipinas.
Is it endorsed? Is it legal tender? BSP Director Melchor Plabasan describes the 3 common myths about cryptocurrencies.
According to Central Bank Director Melchor Plabasan, the Circular No. 944 (Guidelines for VC Exchanges) did not come out on a whim, but rather on numerous consultation with players in the crypto space.
The Bangko Sentral ng Pilipinas announced a soon-to-launch nationwide educational campaign on digital currencies.
With an increasing number of users who access financial services online, the BSP is speeding up the evaluation of companies that applied as e-Money issuers.
For FMIC President Rabboni Francis Arjonillo, the BSP must address cryptocurrency extensively so that banks will be comfortable in dealing with it.