Two new crypto exchanges licensed by Philippines central bank

Asia The Philippines
Maciek Klimowicz
Written by Maciek Klimowicz

The Deputy Governor of Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, announced the approval of applications filed by two new cryptocurrency exchanges.

According to local media reports, Deputy Governor Chuchi G. Fonacier said that the two accredited exchanges are Virtual Currency Philippines, Inc. and ETranss which join the other exchanges already in operation – Rebittance, Inc., Betur, Inc. and BloomSolutions.

Fonacier added that the bank has also considered requiring the exchanges to register as e-money issuers but, in order to provide a streamlined registration process, it was decided against.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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