Bitcoin Regulatory Guidelines Are Coming to the Philippines
Many governments around the world are preparing regulatory policies concerning cryptocurrency markets. The Philippines is now next in line to regulate Bitcoin operations as the central bank deputy governor, Nestor Espenilla, has revealed new virtual currency guidelines. New Virtual Currency Policies Coming to the Philippines. Bitcoin.com reported last....
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New guidelines bring the nation's digital asset industry in line with Financial Action Task Force standards.
The Philippines Central Bank has released guidelines on Bitcoin regulation, which “basically legitimizes the local Bitcoin industry.” Bank: Bitcoin Has ‘Potential to Revolutionize’. This is the summary from a co-founder of the country’s largest Bitcoin startup, Satoshi Citadel Industries (SCI), which also runs exchange Bitmarket.ph. The Bangko Sentral’s decision from January 19th, the text of which was released February 6, […]recognizes that Virtual Currency (VC) systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of....
As one would expect, virtual currency exchanges will need to obtain a Certificate of Registration. An exciting development is taking place in The Philippines right now. Most people are well aware of how bitcoin makes a positive impact on the local economy. Bangko Sentral has issued a document on guidelines for virtual currency exchanges. As a result of this proposal, the country officially acknowledges bitcoin as a payment system. It appears Philippines is one of the first countries that has given bitcoin an official financial “status”. The document drafted by the Central Bank of The....
The Philippines will hold a convention on payments and e-commerce this September to highlight the growth an opportunities in this industry. This will bring together more than a thousand attendees, 60 speakers, and 40 international and local exhibitors for the Cards & Payments Philippines and E-Commerce Show Philippines expo, with some set to discuss cryptocurrency trends in the country. The events will be held in the SMX Convention Center in Manila from September 2 and 3, with industry leaders from the Department of Trade & Industry, Bangko Sentral ng Pilipinas, Globe Telecom, E-PESO, Land....
With everyone from Abra to ZipZap using it as either a launch market or a base of regional operations, the Philippines has long been the hub of innovation for bitcoin remittance companies. Local founders have said it was only a matter of time before the central bank, Bangko Sentral ng Pilipinas (BSP), would come around to regulating the industry, and that process finally began in early February of this year. That's when when BSP deputy governor Nestor Espenilla announced the central bank would issue a circular that intended to clear up the government's position on bitcoin and other....