Philippines adopts Tether’s USDT for social security payments
The Social Security System is a state-run social insurance program that serves employees in the official, informal and private sectors. Go to Source
Philippines
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Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments
The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline … Read more
Bitcoin hits record in Japan, Argentina and Philippines’ local currency
For the first time in history, the price of one Bitcoin exceeded 11 million yen in Japan, while prices also peaked in terms of the Argentinean and the Philippines peso. Go to Source
Philippines begins Peso-backed stablecoin sandbox testing
The test aims to evaluate the PHPC stablecoin’s real-world performance, its impact on the local fiat ecosystem, and its potential uses, including payments, trading and DeFi applications. Go to Source
Philippine Central Bank Approves Peso-Pegged Stablecoin for Faster Remittances
The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange Coins.ph, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month. The PHPC will be the first peso-backed stablecoin available for retail use, … Read more
Binance sued in Canada, CZ could serve 36 months in prison: Law Decoded
Cryptocurrency exchange Binance is under legal pressure in Canada and the Philippines, while U.S. prosecutors are demanding 36 months in prison for Changpeng Zhao. Go to Source
Filipinos face higher fees after Binance ban
Jay Ricky Villarante, the CEO of Moneybees, said that the decision to ban Binance reflects the importance of regulatory compliance and oversight in the industry. Go to Source
Philippines Blocks Binance, Citing Threat to Security of Investor Funds
The Philippines has proceeded to block crypto exchange Binance. The country’s Securities and Exchange Commission (SEC) has concluded that the public’s continued access to Binance’s websites and apps “poses a threat to the security of the funds of investing Filipinos.” The Philippine SEC Warns Against ‘Investing in and Using Binance’ The Philippine Securities and Exchange … Read more
Central Bank of the Philippines to Complete Wholesale CBDC Pilot This Year, Hints at Securities Focused Use Case
The Central Bank of the Philippines revealed that it aims to conclude the ongoing wholesale CBDC pilot, Project Agila, later this year. The pilot, which currently includes the participation of six local financial institutions, might be the gate for democratizing access to securities according to Deputy Governor for Payments and Currency Management Sector Mamerto Tangonan. … Read more
Philippines to Develop Blockchainless Wholesale CBDC in Two Years
The Central Bank of the Philippines will develop a central bank digital currency (CBDC) in the next two years, according to Governor Eli Remolona Jr. The still unnamed CBDC will focus on the wholesale market and won’t use blockchain tech, instead relying on the Philippine Payment and Settlement System, owned and operated by the central … Read more