Analysis
Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar?
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Philippines News
The Philippines, officially the Republic of Philippines, is a unitary archipelagic country in Southeast Asia. The Philippines is the 63rd largest country in the world and 12th in terms of population. The Philippines is one of the most ethnically diverse countries and has a large amount of various religious confessions. Philippines had gross domestic product of $348 billion at the end of 2018, making it the 34th largest economy at the time. The economy is largely made up of manufacturing electronic products, transport equipment, petroleum and its products, and agricultural goods. The economy of the Philippines is becoming more and more tech-oriented, even though 30% of the labor force is employed in the agricultural sector. Cryptocurrency in the Philippines is legal due to Circular No. 944 form, which established guidelines for Virtual Currency exchanges on June 2, 2017. The Philippines control over Bitcoin exchanges is performed by the Central Bank of the Philippines.
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The Philippine government is yet to determine whether Axie’s in-game NFTs should be classified as securities or currency.
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The Philippine Stock Exchange is waiting for the local SEC to issue guidelines for crypto trading.
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One of the most popular e-wallets in the Philippines, GCash, is considering a potential move into crypto following the example of PayPal, Venmo and others.
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This all-in-one DeFi platform wants everyone to benefit from crypto — delivering easy-to-understand educational resources alongside a suite of products.
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The new ASEAN Blockchain Consortium aims to engage with regulators to ensure compliance and raise industry awareness.
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An apparent “glitch” on PDAX temporarily dropped BTC prices by 88% and saw trading suspended. The exchange held a press conference yesterday to explain what happened.
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Statista has found that one-in-three Nigerians held or used crypto assets during 2020.
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The Bangko Sentral ng Pilipinas has expanded its regulatory remit of the crypto space to include all cryptocurrency financial service providers.
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The central bank wants to learn from private-sector digital currencies — but still believes they are inferior to central bank money.
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The Philippines SEC has identified Mining City as a Ponzi scheme and warned promoters of the scam that they could face up to 21 years imprisonment.
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Forsage members are courting a high risk with the Philippines' securities regulator.
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The Philippine central bank has confirmed in a virtual briefing that it has formed a committee to look into issuing a digital currency.
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Numerous emerging crypto markets are showing dramatic growth in P2P trade, with India and Ghana producing enormous growth during 2020.
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