Ninjastic
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Re: [2018-09-05] Philippines Prepares to Regulate Cryptocurrency Exchanges as Tradin
by
Quidat
on 06/09/2018, 22:28:19 UTC
Quote from: carlfebz2 on September 06, 2018, 09:33:23 PM
Quote from: magneto on September 06, 2018, 07:15:24 PM
Quote from: moriskarlov on September 05, 2018, 11:13:24 AM
The head of the Philippines’ Securities and Exchange Commission (SEC) is targeting draft rules for domestic cryptocurrency exchanges within weeks ahead of finalizing regulations later this year.

Cryptocurrency exchanges in the Philippines could soon operate as regulated trading platforms as authorities proactively seek to both protect investors and enable an inclusive ecosystem for cryptocurrencies to flourish in the country.

In quotes reported by BusinessWorld, SEC commissioner Ephyro Luis B.Amatong  stated:

“We will put out a draft rule for the virtual currency exchanges, hopefully within the first half of September.”

See more - https://www.ccn.com/philippines-prepares-to-regulate-cryptocurrency-exchanges-as-trading-platforms/

This is sort of becoming a universal trend with the mass regulation of services and businesses relating to bitcoin worldwide.

So long as this does not turn into some sort of draconian restriction on people's ability to buy and sell coins on exchanges, but rather, an effort in trying to protect all parties involved in trading activity like this, this should be a positive move overall.

These regulations will lead to a more mature market, which will lead to institutional investors being more interested within the market (whether for good or for bad).
Having the same view but my doubts cant really be avoided even they are being too positive about recognition of crypto specially Bitcoin there

would be always an intent behind those decisions.I can attest to that since I do know on how the government behaved when it comes to new things

or trend that do happen up.The good thing I do experience is when using up BSP regulated local wallet where theres no soo much restrictions instead
just doing out some KYC but I do already expect that sooner or later Taxes will surely be sue out on each user.
You wont know if they do have that motive it would all just depend but basing on the ranking about in the most corrupted countries then PH is included on that one which probably they are aiming for something.

Damn, supposedly i do just put up 5 merits but i accidentally re-submit that input (Lucky Cheesy)