Филиппинские законодатели, Центральный банк, SEC обсуждает регулирование криптовалюты на слушаниях в Сенате

The central bank and the Securities and Exchange Commission (SEC) of the Philippines discussed crypto regulation in a Senate hearing with the participation of several executives from the crypto industry, including from crypto exchange Binance.

Philippine Regulators Discuss Crypto Policies

Philippine regulators recently discussed cryptocurrency regulation with some executives from the crypto industry in a Senate Committee on Banks, Финансовые институты, and Currencies hearing, chaired by Senator Mark Villar, the Inquirer reported Wednesday.

Центральный банк Филиппин (BSP), the Philippine Securities and Exchange Commission (SEC), and the Cagayan Economic Zone Authority (CEZA) were present. The executives from the crypto industry include Binance APAC Director Leon Foong and the exchange’s general manager for the Philippines, Kenneth Stern. Fintech Alliance’s chairperson, Lito Villanueva, also participated in the discussion.

The regulators and industry participants discussed several initiatives key to establishing policies and guidelines for fintech and digital assets, публикация передала. BSP Deputy Governor Chuchi Fonacier talked about the central bank’s sandbox approach to crypto regulation, including conducting research into the formation of digital asset policies.

SEC Chairman Emilio Aquino emphasized the need to actively enforce security measures against misconduct involving digital assets. Senator Sonny Angara asked if cease and desist orders are enough enforcement against the illicit use of cryptocurrencies. The lawmaker pointed out that illegal crypto activities take place on websites made available globally on the internet.

Stern shared: “We strongly believe that the crypto industry can greatly benefit the Filipino people through addressing the necessity of financial inclusion through digitalization.” The Binance manager for the Philippines added:

78% of Filipinos remain unbanked, but crypto can help decrease that number as crypto asset holders will soon surpass the number of credit card holders in the country.

The representatives from the global crypto exchange also shared the trading platform’s user protection and security policies. They included the know your customer (KYC) процесс, collaboration with global law enforcement and banking agencies, and the digital asset listing process. Генеральный директор Binance Чанпэн Чжао (Чехия) tweeted Wednesday that his company is “pushing crypto adoption” in the Philippines.

Discussion participants agreed that a proper regulatory framework is necessary for the growth of the crypto industry, and providing financial literacy is key to ensuring user protection. Binance has already partnered with some local universities and professional groups to offer free courses in blockchain technology, криптовалюта, web3, криптотрейдинг, метавселенная, и децентрализованные финансы (дефи).

Прошлая неделя, the Philippine central bank предупрежден the public about engaging with foreign crypto service providers. Ранее в этом месяце, the regulator said that it will stop accepting crypto license applications for three years.

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Кевин Хелмс

Студент австрийского экономического факультета., Кевин нашел биткойн в 2011 и с тех пор был евангелистом. Его интересы заключаются в безопасности биткойнов, системы с открытым исходным кодом, сетевые эффекты и пересечение экономики и криптографии.

Кредиты изображений: Шаттерсток, Pixabay, Викисклад