Philippines Charts Path to a Strategic Bitcoin Reserve with 10,000 BTC
The Philippines is making a bold move toward integrating digital assets into its national financial strategy with a proposed law to establish a Strategic Bitcoin Reserve. The bill, introduced in Congress, calls for the country’s central bank to acquire 10,000 Bitcoin (BTC) over the next five years, purchasing 2,000 BTC annually, and holding it in […]
Philippines SEC Releases New Crypto Regulatory Framework Draft
A draft of the Securities and Exchange Commission Philippines’ framework for regulating cryptocurrencies was made public. Feedback on the draft is requested from stakeholders by January 18, 2025. “SEC Rules on Crypto-Assets Service Providers (CASP Rules)” is the title of the released regulatory draft, according to the recently shared document. The framework addresses a variety […]
Philippines Charges Two Russians with $6.2 Million Crypto Theft
The Philippine DOJ has charged two Russians for stealing $6.2 million in XRP from Coins.ph under the Cybercrime Prevention Act. Last week, the Philippine Department of Justice disclosed that two Russian nationals had been indicted for stealing 340 million PHP (approximately $6.2 million) in cryptocurrency XRP from the local crypto exchange Coins.ph. Vladimir Evgenevich Avdeev […]
Ronin Network Introduces PHPC Stablecoin to Enhance Filipino Crypto Adoption
In collaboration with Coins.ph and under Bangko Sentral ng Pilipinas regulation, the Ronin Network includes PHPC, a Philippine peso-pegged stablecoin, to promote affordable remittances and crypto adoption in the Philippines. The Ronin Network has announced the addition of PHPC, a Philippine peso-pegged stablecoin, to its platform. Ronin’s X (formerly Twitter) account announced this development, emphasizing […]
Philippines Commences Sandbox Testing for Peso-Backed Stablecoin
Philippines central bank greenlights trials for PHPC, a peso-backed stablecoin, in partnership with Coins.ph under the Regulatory Sandbox Framework. In regulated trials, the central bank of the Philippines will launch a national stablecoin pegged 1:1 to the local peso. A pilot program for PHPC, a stablecoin supported by the Philippine peso, was authorized by the […]