The central bank wants to learn from private-sector digital currencies — but still believes they are inferior to central bank money.
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.
The Philippines is really interested.9927
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.17987
Forsage members are courting a high risk with the Philippines' securities regulator.34342
The Philippine central bank has confirmed in a virtual briefing that it has formed a committee to look into issuing a digital currency.4745
Numerous emerging crypto markets are showing dramatic growth in P2P trade, with India and Ghana producing enormous growth during 2020.3386
The Philippines has launched a blockchain-enabled mobile application for the distribution of government-issued bonds.6773
Two related cryptocurrency firms have fallen foul of U.S. financial regulators for entering into illegal off-exchange swaps in digital assets and foreign currency.5054
Binance will join Swipe’s board of directors, but the firm is “able to run the company independently from Binance.”5458
Spanish authorities have arrested several individuals related to ongoing investigations against crypto-driven child porn sites on the dark web.7767
The Philippines Department of Finance warns people that Bitcoin Revolution uses government officials’ names to spread fake news endorsing their business.5026
The Philippine Institute for Peace, Violence and Terrorism Research has been tracking transactions made by local terror groups.5658
The Philippines Securities and Exchange Commission has flagged its third cryptocurrency scam this month, warning investors against a scheme dubbed “The Billion Coin.”8761
UnionBank head forecasts that the coronavirus will drive banks to shift towards digital currencies, leaving physical cash behind.5167
The Philippine SEC has warned of a fraudulent investment scam offering 9,000% returns through its ‘Bitcoin Revolution’ trading software.6556