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Bangko Sentral ng Pilipinas (BSP) plans to introduce its wholesale central bank digital currency (CBDC) by 2029. The Philippine central bank’s CBDC initiative is near its proof-of-concept completion. “This is an innovative payment instrument,” said the BSP deputy governor. “This is an entirely new thing, and we have to make sure that we can offer … Read more
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has cautioned the public against scams involving AI-manipulated videos and audios, which are used to spread false information, particularly about cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the purported cryptocurrency project “Tesler Code” or any other … Read more
The Philippine Department of Justice (DOJ) has charged two Russian nationals with stealing PHP340 million ($6.2 million) worth of XRP cryptocurrency from a local crypto exchange. The suspects allegedly hacked Coins.ph’s system to commit the theft. The DOJ emphasized the importance of vigilance against cybercrime despite ongoing efforts to combat these threats. Philippine DOJ Charges … Read more
The largest stablecoin issuer, Tether, has announced a collaboration with Uquid, a Web3 e-commerce platform. This partnership enables residents of the Philippines to pay their Social Security System (SSS) contributions using the stablecoin issued on The Open Network (TON). Additionally, Uquid has released a detailed guide for citizens on how to use USDT-TON to pay … Read more
The Social Security System is a state-run social insurance program that serves employees in the official, informal and private sectors. Go to Source
The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline … Read more
For the first time in history, the price of one Bitcoin exceeded 11 million yen in Japan, while prices also peaked in terms of the Argentinean and the Philippines peso. Go to Source
The test aims to evaluate the PHPC stablecoin’s real-world performance, its impact on the local fiat ecosystem, and its potential uses, including payments, trading and DeFi applications. Go to Source
The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange Coins.ph, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month. The PHPC will be the first peso-backed stablecoin available for retail use, … Read more
Cryptocurrency exchange Binance is under legal pressure in Canada and the Philippines, while U.S. prosecutors are demanding 36 months in prison for Changpeng Zhao. Go to Source
