Learn about the Bangko Sentral ng Pilipinas’ advisory cautioning ATM cardholders against participating in “sangla-ATM” schemes.
The international watchdog confirmed that it is now working on recommendations for stablecoins and other crypto asset activities.
BSP Gov. Medalla expressed that the current transaction fee worth ₱15 may still be too high for small transactions, particularly for the poor.
With this good sign, the Monetary Board can finally focus on inflation targeting rather than foreign exchange rate management, Medalla said.
According to BSP Gov. Medalla, Project CBDH aims to allow any Southeast Asian native in the country to make wholesale transactions.
The BSP Governor reiterates his stance on cryptocurrencies amid decreasing prices because of the collapse of FTX.
The country’s inflation rate rose to 7.7% year-on-year in October from 6.9% in September, the highest since 2018. BSP Governor Medalla revealed.
In a report from Reuters, Medalla said it will not be “the end of the world” if the Philippine Peso hits 61 versus the dollar.
The BSP said that it appreciates the offer of the banking industry in supporting the government’s economic and digitalization efforts.
The central bank’s Monetary Board approved the Regulatory Sandbox, or Test and Learn Framework, that will run for 12 months.