The Monetary Board, the policymaking body of the Bangko Sentral ng Pilipinas (BSP) has canceled the Certificate of Registration of ETRANSS INTERNATIONAL REMITTANCE CORP. to operate as a Type “A” Remittance Agent with Virtual Asset Service Provider (VASP) functions. Why it matters: The BSP has cancelled multiple crypto exchanges licenses in the past year alone,…
![Tim Ying, GOW Exchange, [PH 2019 Crypto & Blockchain Year in Review]](https://bitpinas.com/wp-content/uploads/2020/01/2019-Blockchain-and-Crypto-Philippines-16-3-768x402.png "Tim Ying, GOW Exchange, [PH 2019 Crypto & Blockchain Year in Review] 2")
Tim Ying: What I would personally love to see is more Filipino projects starting to emerge and the nascent Decentralized Finance trend coming to fruition. What is necessary for this to happen, however, is more regulatory clarity and clear taxation guidelines, without which bigger firms will continue to be reluctant to make any major commitment to this space.
These limits are in compliance with the rules set up by the Bangko Sentral ng Pilipinas (BSP) and in compliance with Philippine laws.
Find out more information and career opportunities on GOW Exchange, a cryptocurrency exchange in the Philippines.
