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The Central Bank of the Philippines: Starting in September, the regular application window for new virtual asset service provider licenses will be closed for a period of three years



Time:8/11/2022 12:19:11 PM

[Philippines Central Bank: Starting in September, the regular application window for new virtual asset service provider licenses will be closed for a period of three years] According to news on August 11, the Philippine central bank stated that it will close its new virtual asset service provider licenses starting in September The regular application window for the three-year scheme aims to strike a balance between promoting innovation in the financial industry and ensuring that associated risks remain manageable. (Bloomberg)

Other news:

The Philippine central bank is considering launching a CBDC in the near future: On November 22, Benjamin Diokno, governor of the Philippine central bank (BSP), said in an interview with local news station ABS-CBN that the central bank is considering launching a CBDC in the near future and considering joining M-CBDC Bridge cross-border payment project. Last week, the Monetary Authority of Singapore (MAS) and BSP announced that they will cooperate to promote real-time cross-border payments between citizens of the two countries through QR codes. Earlier this year, MAS launched a similar solution with Thailand. (LedgerInsights) [2021/11/22 7:04:02]

Philippine SEC has issued a restraining order to Payasian over its cryptocurrency Paya: The Philippine Securities and Exchange Commission (SEC) has issued a restraining order to Payasian Pte. Ltd. Corp. over its cryptocurrency Paya. The SEC said in a statement that it had ordered Payasian “to cease enticing the public to invest in the cryptocurrency known as Paya without the necessary license.” In an order issued on March 20, the commission directed Payasian immediately ceases and terminates continuing to engage in, promote and facilitate the sale and/or offering of securities in the form of investment contracts and/or other activities/transactions. In addition, the SEC prohibits Payansian from engaging in any business involving its deposit bank funds and prohibits it from assigning, disposing of, or transferring all related assets in any way for investors. The SEC said Payasian's certificate of registration did not include authorization to sell or issue securities to the public. Therefore, doing so requires a secondary license from the SEC. (The Manila Times)[2020/3/30]

News | The Philippines launches the first blockchain research and development laboratory: According to cryptovest, the healthcare company MediXserve has partnered with Ateneo de Manila University to launch the Philippines' first blockchain education research laboratory. The lab includes medical technology, financial technology, educational technology, artificial intelligence (AI) and data analytics, among others. [2018/10/29]

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