NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Bangko Sentral Makes Easier Bitcoin Exchanges Operate Philippines

Gautham
Gautham
4 years ago
2 mins read
Philippines central bank

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Central Bank of Philippines, Bangko Sentral ng Pilipinas has released a notification that makes it easier for Bitcoin exchanges in the country to operate. The new “Guidelines for Virtual Currency (VC) Exchanges” was approved by the country’s Monetary Board.

According to the regulation, all cryptocurrency exchanges operating in the country will have to register themselves as Non-Banking Financial Institutions. The Central Bank has introduced these regulations in the light of increased usage of Bitcoin for remittance within the country.

Bangko Sentral, in the notification clearly mentions that the banking institution understands Bitcoin’s potential benefits and it doesn’t intend to hamper innovation in the sector. The central bank is quoted in the circular stating,

“The Bangko Sentral does not intend to endorse any VC, such as Bitcoin, as a currency since it is neither issued or guaranteed by a central bank nor backed by any commodity. Rather, the BSP aims to regulate VCs when used for delivery of financial services, particularly, for payments and remittance, which have material impact on anti-money laundering (AML) and combating the financing of terrorism (CFT), consumer protection and financial stability.”

The guidelines for cryptocurrency exchanges also outlines various obligations and compliances on the exchanges’ part as well. Bangko Sentral classifies cryptocurrency exchanges among remittance and fund transfer companies. The platforms will be governed by Section11 of Republic Act no. 9160 or the Anti-Money Laundering Act of 2011 along with the Revised Implementing Rules and Regulations and other applicable regulations issued by Bangko Sentral.

The approved guidelines facilitate mainstream adoption of Bitcoin and other cryptocurrencies. The digital currencies are equivalent to foreign currency, except for the absence of guarantees on Bangko Sentral’s part. However, the regulations also increase the costs of operations of the virtual currency exchanges, in terms of compliance requirements. But given the tremendous opportunities and scale of usage, the platforms will not be affected by it.

Read the full notification here

Ref: Bangko Sentral | Image: ManilaLiveWire
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

maxi-doge-rival-bonk-staking-150-apy

Maxi Doge nouveau rival de Bonk : rendement staking au-dessus de 150 % APY

Les meme coins reviennent sur le devant de la scène. Maxi Doge ($MAXI) s’invite au premier plan avec un staking...

guillaumev 4 hours ago
rallye-solana-previsions-prix-septembre-2025

Rallye du Solana : jusqu’où peut aller le prix en septembre 2025 ?

Solana a repris de la vitesse et attire de nouveau la liquidité. Les volumes on-chain progressent, la TVL grimpe vers...

guillaumev 4 hours ago
Ethereum

This Is The Key Level That Stands Between The Ethereum Price And A Surge To $5,000

The Ethereum price has been in a crucial consolidation phase, with analysts closely watching the next big move. After reclaiming...

Scott Matherson 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Altcoin

Expert Says ‘The Time Has Come’, What Could Drive The Next Explosive Altcoin Season

Scott Matherson 38 minutes ago
solana sol solusd

Solana Treasury Trend Accelerates: Pantera’s Helius Push Holdings Past $3B

James Halver 1 hour ago
Bitcoin

Portal To Bitcoin: PTB Emerges As The Key To Revolutionize BTC Exposure – See Why

Godspower Owie 2 hours ago

Premium Sponsors

Press Releases

  • Trh s kryptoměnami se zahřívá: Bitcoin Hyper (HYPER), Wall Street Pepe (WEPE), Maxi Doge (MAXI) a PepeNode ve hře

    Trh s kryptoměnami se zahřívá: Bitcoin Hyper (HYPER)...

    1 hour ago
  • 3 nízko-kapitálové altcoiny, které zažívají masivní akumulaci během altcoin sezóny

    3 nízko-kapitálové altcoiny, které zažívají masivní...

    2 hours ago
  • A legjobb altcoinok, amiket érdemes megvenni, ahogy a Solana ára megközelíti történelmi csúcsát

    A legjobb altcoinok, amiket érdemes megvenni, ahogy a...

    2 hours ago
  • Masivní spalování tokenů pokračuje u Wall Street Pepe...

    2 hours ago
  • Najlepsze altcoiny do kupienia, gdy cena Solany zbliża się do historycznego szczytu

    Najlepsze altcoiny do kupienia, gdy cena Solany zbliża...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.