The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on 3 July 1993 pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP took over from the Central Bank of Philippines, which was established on 3 January 1949, as the country’s central monetary authority. The BSP enjoys fiscal and administrative autonomy from the National Government in the pursuit of its mandated responsibilities. - http://www.bsp.gov.ph/about/overview.asp
The Central Bank of the Philippines has issued an report to approved new new cryptocurrency exchanges. Before this approval, the Philippines has already had an accredited crypto exchange of three (3). With this, it brings the total number of five (5) accredited crypto exchange in the country. It shows a sign that crypto transactions is growing in the country.
The regulator has approved applications filed by Virtual Currency Philippines Inc. and Etranss as platforms to convert pesos into virtual currencies (VC) like bitcoin and ethereum.
For the security of the users, the Anti-Money Laundering Council will start looking at crypto transactions and tighten its watch against dirty money. The central bank has already proposed that crypto exchanges must secure separate license to operate as electronic money issuer.
Betur Inc, also known as Coins.ph
-it was approved last September 2017
Rebittance Inc
-it was approved last October 2017
Bloom Solutions
-it was approved last May 2018
Virtual Currency Philippines Inc
-recently approved this July of 2018
Etranss
-recently approved this July of 2018
Source:
https://news.bitcoin.com/philippines-government-crypto-exchanges/
