The Philippine central bank is reportedly reviewing 12 applications for bitcoin exchange registrations.
After issuing regulations for the cryptocurrency industry earlier this year, Philippine authorities are considering further steps to expand the use of digital currencies like bitcoin in the country.
In a news conference this week, the country’s Securities and Exchange Commission (SEC) commissioner Emilio Aquino revealed the authority’s intent to consider cryptocurrencies as securities, effectively bringing them under regulatory code, the Manila Times revealed.
The central banks of the Philippines and Singapore have forged a FinTech agreement that could result in cross-border payments over a blockchain between their markets.
Announced yesterday at the sidelines of the Singapore FinTech Festival, the pact is a ‘FinTech Co-operation Agreement’ between the Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS), and aims to establish ties to promote financial technologies in each other’s markets.