The Philippines pushes back against foreign exchanges, continuing a protectio...
The Central Bank of the Philippines warns the public against using non-local crypto trading platforms. The pressure on crypto is growing swiftly in the Philippines. After a recent series of controversial moves from the state regulators and local think tanks, the country’s central bank published a warning to the citizens, discouraging them from engaging in any operations with unregistered or foreign crypto exchanges. The announcement itself doesn’t sound menacing but taken in the context of accompanying developments, it makes a 112-million nation a restive region for crypto. On Aug.17, The....
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The practically non-existent start-up ecosystem in Philippines has suddenly sprung to life. Thanks to the bitcoin revolution, the number of start-ups, particularly cryptocurrency related ones is increasing from the past couple of years. The success of Bitcoin in Philippines can be attributed to the social and economic factors. The two main factors that has led to a bitcoin boom in Philippines: Philippines has a huge remittance market. Like China and India, there are many Filipino emigrant workers employed across the world. Like in any other developing countries, even the emigrant Filipinos....
Back in November, Hong Kong based Cryptocurrency Exchange Bitspark Limited unveiled the first ever end-to-end Bitcoin remittance solution: A much needed service that would allow Hong Kong's population to gain easy access to the advantages bitcoin offers when compared to conventional remittance services to transfer money to the Philippines. They're now extending their services from the Philippines to also serve Indonesia. The numbers behind the demand. According to the Hong Kong Government's website, more than 165,000 Indonesians and about 169,000 from the Philippines were residing in Hong....
Bitcoin is continuing to thrust higher, pushing to nearly $22,000 a handful of minutes ago. The leading cryptocurrency currently trades for $21,700 after a slight correction. Analysts think that this rally is being driven by institutional players. Bitcoin Nearly Pushes to $22,000 Bitcoin is continuing to thrust higher despite fears that there were some whales located in Asia that would sell into the strength. BTC just pushed to $12,850 on leading spot exchanges and moved […]
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said.
16 Foreign Crypto Exchanges Flagged by South Korean Regulator
South Korea’s top financial regulator, the Financial Services Commission (FSC), announced Thursday that the country’s financial intelligence unit (KoFIU) has notified investigative....
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....