Philippines News

Following in the footsteps of Ripple, Gemini gears up for a legal battle with the SEC; Asia makes efforts towards boosting its crypto regulations

The Philippines’ Securities and Exchange Commission (SEC) has warned residents against investing in Gemini’s recently launched derivatives products, as the exchange does not have the necessary license or authority to operate the business in the country. The Philippines financial watchdog,…

As per a recent report, the crypto exchange, Binance, joined the FinTech Alliance Philippines and other agencies to aid the government in regulating the crypto sector. The news comes after the Philippines SEC warned the public about using Binance.  Binance…

The Philippines financial regulator has not taken kindly to people making money off of blockbuster blockchain-based game Axie Infinity. Income Made via Axie Infinity is Taxable The Department of Finance (DOF) of the Philippines has warned the players of the…

Philippines central bank, Bangko Sentral ng Pilipinas (BSP) has made key changes to its regulations guiding crypto assets. The changes according to the bank are aimed towards preventing the use of cryptocurrencies in money laundering schemes. New Regulations to Prevent…

The UnionBank of the Philippines, one of the Philippines’ major banks, partnered with a cryptocurrency remittance platform and Ripple partner, Coins.ph, to introduce a cash-out network to enable make it easier for citizens to send money abroad. UnionBank and Coins.ph…

Bitcoin wallet provider and investment platform Abra says people can now buy cryptocurrencies at any 7-Eleven outlet in the Philippines. The news is the latest development in efforts to make cryptocurrencies more easily accessible to users in markets across the…

Law enforcement agents in the Phillippines while acting on a tip from the Chinese Embassy, have arrested 273 Chinese nationals for allegedly defrauding over 1,000 investors in a cryptocurrency investment scam, reports Inquirer on September 16, 2019. End of the…

Local Philippines media outlet Philstar Global is reporting that a couple of cryptocurrency exchanges have obtained authorization from the country’s central bank. This development follows similar approvals gotten by close to a dozen platforms in recent time. Several countries in…

Union Bank in the Philippines, funded by Aboitiz Equity Ventures, has launched a stablecoin with the ticker PHX. In doing so, Union Bank has become the first bank in the country to conduct transactions via a blockchain. PHX transactions are…

Union Bank of the Philippines has joined forces with OCBC Bank of Singapore to facilitate a cross-border transfer from Singapore to the Philippines using the Ethereum-powered Adhara liquidity management, and international payments platform its (Unionbank) proprietary i21 platform, reports local…

The Union Bank of Philippines, one of the country’s largest banks, is unveiling two cryptocurrency ATMs. The initiative from Union Bank has the blessings of the country’s central bank, Bangko Sentral ng Pilipinas (BSP). The move is likely to promote Bitcoin adoption…

Following the footsteps of regional developments in South East Asia, the Philippines Security and Exchange Commission could soon pass relevant laws for the operation of cryptocurrency exchanges in the country, Manila Times reported September 3, 2018. Philippines’ Crypto Push Amidst…

At least 21 offshore companies in the FinTech sector have signed up with the Cagayan Special Economic Zone Authority (CEZA) after the CEZA Fintech Summit 2018 in the Philippines. Some of the FinTech companies that are seeking to set shop…

Many countries around the world, despite media depictions, have a laissez-faire approach to Bitcoin at the present time. Bitcoin isn’t bothering the government, and hasn’t worked into the mainstream as of yet; in return, governments haven’t bothered bitcoin in most…

Since the beginning of 2015, financial experts and bitcoin enthusiasts have explored the applications of the Bitcoin blockchain technology in the traditional finance sector. As a result, a growing number of Bitcoin startups have begun to switch their business models…