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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
Jay Ricky Villarante, the CEO of Moneybees, said that the decision to ban Binance reflects the importance of regulatory compliance and oversight in the industry. Go to Source
The Philippines has proceeded to block crypto exchange Binance. The country’s Securities and Exchange Commission (SEC) has concluded that the public’s continued access to Binance’s websites and apps “poses a threat to the security of the funds of investing Filipinos.” The Philippine SEC Warns Against ‘Investing in and Using Binance’ The Philippine Securities and Exchange … Read more
The Central Bank of the Philippines revealed that it aims to conclude the ongoing wholesale CBDC pilot, Project Agila, later this year. The pilot, which currently includes the participation of six local financial institutions, might be the gate for democratizing access to securities according to Deputy Governor for Payments and Currency Management Sector Mamerto Tangonan. … Read more
The Central Bank of the Philippines will develop a central bank digital currency (CBDC) in the next two years, according to Governor Eli Remolona Jr. The still unnamed CBDC will focus on the wholesale market and won’t use blockchain tech, instead relying on the Philippine Payment and Settlement System, owned and operated by the central … Read more
The head of the Philippines SEC clarified that Binance and any other unregistered exchange issued with an advisory has three months before they’re banned from the country. Go to Source
According to the Philippines SEC, entities involved in promoting or trading on Binance could face up to 21 years of imprisonment and $90,000 penalties. Go to Source
Real-world asset tokenization as a concept has existed for some time. However, in 2023, with the growing interest of institutions, various governments have started experimenting with the concept. Go to Source
18 million users of Coins.ph are expected to receive a faster, lower-cost and more accessible remittance option as a result of the new partnership with Circle. Go to Source
