The Central Bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), will continue to spotlight crypto-related risks in the country, reports Philstar.com, citing the BSP Governor Benjamin Diokno.
According to the local media, the head of the bank "is not fully convinced about the use of cryptocurrencies in the country since this could be used for terrorism financing."
"I think that is my view. So we will go easy on that," the BSP Governor added.
However, the Philippines is not so categorical regarding the crypto-related business. For instance, back in October 2018, the Philippines government-owned Cagayan Economic Zone Authority (CEZA) issued provisional licenses for operating crypto exchanges to nineteen firms. Eight more firms paid entrance fees and were under consideration.
Earlier iHodl reported that the Philippines Security and Exchange Commission (SEC) postponed the issue of its ICO regulations, which "it was hoping to release before the end of 2018."
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