Select Page

Philippine Stock Exchange (PSE) Wants to Facilitate Bitcoin Trading As Soon As Regulation Opens Up

Philippine Stock Exchange (PSE) Wants to Facilitate Bitcoin Trading As Soon As Regulation Opens Up
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

National exchange of the Philippines The Philippine Stock Exchange (PSE) plans to enable crypto trading on its platform. To do this, the exchange needs approval from regulators.

PSE Best For Crypto Trades

Speaking to CNN Philippines, PSE CEO and President Ramon Monzon said that the exchange would be a suitable platform for crypto trading due to its unique trading infrastructure and investor protection safeguards.

Monzon believes that the structured trading of crypto in the Philippines should be on the PSE platform. According to him, cryptos are an asset class the Philippines cannot ignore anymore, given growing interest.

“If there should be any exchange for cryptos, it should be done at the PSE. Why? Number one, it’s because we have the trading infrastructure. But more importantly, we’ll be able to have investor protection safeguards especially with a product like crypto.”

Monzon said the idea surfaced during a top management meeting two weeks ago. He added that PSE is currently awaiting guidelines from the Philippine Securities and Exchange Commission (SEC) alongside other regulators.

The SEC began seeking public comments from banks, investors, and others in 2019 to ascertain whether the country needs a domestic crypto exchange. The same year, the regulator announced intentions to issue guidelines for crypto exchanges.

In 2020, SEC chairman Emilio Aquino said the agency has set draft rules in place after receiving comments and is looking to finalize them. However, there are no concrete rules in place yet.

Philippines’ Attitude Towards Crypto

Unlike some countries, the Philippine government has been relatively friendly towards cryptocurrencies.

Although the Philippine Central Bank has been outspoken about its crypto rules as it aims to curtail money laundering, it has approved several crypto exchanges.

Some of the firms approved last year include Bitan Moneytech, Rebittance Virtual Currency Philippines, and Bexpress.

In January, the Bangko Sentral ng Pilipinas (BSP), or the central bank of the Philippines, published new guidelines for the virtual asset service providers (VASPs) operating in the country. The bank imposed new restrictions and directed the firms to have licenses before operating.

BSP requires exchanges to register as remittance and transfer companies while putting anti-money laundering and consumer protection mechanisms in place.

While the country’s government seems invested in cryptocurrency, it is not making the same effort for its central bank digital currency (CBDC) program. Last year, the BSP said they were not considering the development or issuance of a CBDC any time soon. According to a report by CNN Philippines, BSP Governor Benjamin Diokno said work needs to be done before a digital Peso can be issued.

The post Philippine Stock Exchange (PSE) Wants to Facilitate Bitcoin Trading As Soon As Regulation Opens Up first appeared on BitcoinExchangeGuide.


Source: BitcoinExchangeGuide


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select a Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber