Tags: Philippines

Philippine SEC Gives Binance and Other Platforms Operating Without License 3 Months Before Ban

The head of the Philippines SEC clarified that Binance and any other unregistered exchange issued with an advisory has three months before they are banned from the country.

SEC in Philippines: Binance is Operating Without a License – Here’s the Latest

According to the Philippines SEC, entities involved in promoting or trading on Binance could face up to 21 years of imprisonment and $90,000 in penalties.

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 idea.

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.

While Thai regulators aim to tax crypto earned overseas, Brazilian lawmakers seek to protect it from seizure.

Union Bank of the Philippines Secures Central Bank License to Offer Crypto Trading

Philippines SEC Collaborates With International Organizations to Strengthen Crypto Enforcement Efforts

The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime.

Playing crypto games can be riskier than investing in cryptocurrencies, according to the Filipino ACG, considering the ease with which gamers can lose their digital tokens and NFTs.

The project simulated transfers to customers of BDO Unibank in the Philippines with improved settlement time, cost and transparency.

Blockchain Council of the Philippines’ Donald Lim believes that blockchain and Web3 projects have the “opportunity to flourish” in the country.

DICT Director Emmy Lou Versoza-Delfin said there’s been a rise in innovative blockchain startups in the Philippines, signaling that the country could be a global leader in blockchain.

Pouch founder Ethan Rose said that they‘ve managed to convince 400 businesses to accept Bitcoin in the Philippines.

Today in Crypto: US Court Orders SEC to Respond to Coinbase‘s Rulemaking Petition Within 7 Days, Circle Gets Its Singapore MPI Licence, Cathie Woods Uses Drop in Coinbase Stock Price to Stock Up

Despite a tumultuous year, the Philippines’ financial regulator decided not to rush a legal framework on the crypto industry, which was initially planned for late 2022.