Bangko Sentral ng Pilipinas

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Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse

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The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the regulator stressed. Philippine SEC Warns About Unregulated Crypto Exchanges The … Read more

Philippine Regulator Warns the Public of Engaging With Foreign Crypto Service Providers

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The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection and redress mechanisms for local customers, among others,” the regulator said. The Philippine Central Bank’s Crypto Warnings … Read more

Philippines Will Stop Accepting Crypto License Applications for 3 Years, Regulator Says

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The central bank of the Philippines, Bangko Sentral ng Pilipinas, has announced that it will stop accepting crypto license applications for three years, starting next month. The central bank is the primary regulator of the crypto sector in the Philippines. Philippines Halts Accepting Crypto License Applications The Philippine central bank, Bangko Sentral ng Pilipinas, announced … Read more

Philippine ‘Crypto Valley of Asia’ to Get Own Airport

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The Philippines has a “Crypto Valley of Asia,” an initiative of the Cagayan Economic Zone Authority, the government agency responsible for managing the Cagayan Special Economic Zone and Freeport. An airport is now being planned for inside this economic zone to address the needs of its investors and crypto service providers. Many cryptocurrency exchanges have … Read more

IMF Helping Philippines Become Important Crypto Market

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The International Monetary Fund (IMF) is providing the Philippines with technical assistance regarding crypto assets. The IMF believes the country may become an important crypto market and has provided the Bangko Sentral ng Pilipinas with suggestions for the country’s crypto regulation, including quarterly data collection from approved crypto exchanges. Also read: Regs Roundup – China … Read more

Philippines Now Has 10 Approved Cryptocurrency Exchanges

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The Philippines is catching up to Japan with a growing number of approved cryptocurrency exchanges. The central bank has green-lighted 10 crypto exchanges so far. Meanwhile, one of the country’s largest banks now has a bitcoin ATM at one of its main branches. In addition, the Cagayan Economic Zone Authority has independently licensed 24 crypto … Read more

Union Bank of the Philippines Launching Cryptocurrency ATM

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One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.” Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for … Read more

Philippines Government Approves Two New Crypto Exchanges

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The central bank of the Philippines has reportedly approved two new cryptocurrency exchanges, bringing the total number of accredited crypto exchanges in the country to five. Meanwhile, crypto transactions have been growing in the country. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Accrediting Two New Crypto Exchanges The central bank of the Philippines, … Read more

Cryptocurrency to Fiat Transactions Remain High in the Philippines

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The Filipino central bank has revealed that the trade between fiat and cryptocurrencies on authorized bitcoin exchanges in the Philippines has maintained its high level for the country from the boom time of late 2017 during the first quarter of this year.   Also Read: US Authorities Seize Over $20M in Crypto in Massive Darknet Crackdown … Read more

Philippines’ Crypto Wallet Reaches 5 Million Users, Adds More Coins

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Averaging more than a million onboardings per year, Philippines’ Coins.ph announced it reached a whopping five million users this week for its mobile payments application (app) and hot crypto wallet. Not content with merely adding numbers for their own sake, the company also revealed it would add two new popular coins: bitcoin cash (BCH) and … Read more