Bitcoin Rises as Philippines Likely to Legalize Crypto Exchanges By Investing.com



© Reuters. Bitcoin prices rose on Wednesday

Investing.com – Bitcoin prices rose on Wednesday on reports that the Securities and Exchange Commission (SEC) of the Philippines is considering to allow cryptocurrency exchange platforms to operate in the country.

 edged up 1.0% to $7,353.4 at 12:55AM ET (04:55 GMT) on the Bitifinex exchange, while  fell 0.4% to $284.69.  

Meanwhile,  traded at $0.33045, down by 0.8% in the last 24 hours on the Poloniex exchange, while  was up 1.3% to $67.479.  

The Manila Times reported that the SEC would be working with Bangko Sentral ng Pilipinas, the country’s central bank, to regulate the exchanges.

Citing SEC Commissioner Ephyro Lius Amatong, the Manila Times reported that the agency is likely to release draft rules later this month and that they are aiming to regulate exchanges as trading platforms as soon as they can.

“We see the need to regulate them as trading platforms,” Amatong told reporters.

“We already discussed the matter with the BSP since the BSP is also interested and we are also interested. The discussion … [involves]joint cooperative oversight over VCEs engaged in trading,” he said.

In other news, Japan’s Financial Services Agency (FSA) said the country is currency revamping its registration process for crypto exchanges.

“The state watchdog has increased the number of questions asked when screening applications to about 400 items – up fourfold,” said the FSA.

FSA commissioner Toshihide Endo then added that the new regulations are not meant to limit financial innovation in the country, and that FSA is simply aiming to see crypto industry to “grow under appropriate regulation.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*