Hong Kong Crypto-Exchange, Gatecoin To Resume Bank Transfers And Adds Litecoin
Gatecoin has recently confirmed that they are soon resuming USD and HKD bank transfers through a new partnership after a banking blackout struggle in September.
Two months have passed since the exchange suspended HKD and USD transfers sue to sudden bank account freezes in the country.
Currently, Gatecoin is in partnership with a Europe-based payment processor which will allow its users to deposit and withdraw in two fiat currencies and will go live in 4 to 6 weeks from today.
Additionally, Gatecoin has listed Litecoin in addition to its existing coins Bitcoin and Ethereum.
Philippine Regulators Is Moving Towards Legalizing Bitcoin As A Security
The Philipines Securities and Exchange Commission (PhSEC) Commissioner Emilio Aquino has recently announced plans in considering Bitcoin as possible securities.
This will mean that the Securities Regulation Code will be applied to Bitcoin.
The move towards legalization of the cryptocurrency will come after much consideration and monitoring along with consultation with the country's central bank.
Also, the Philippine regulators are aware of Initial Coin Offerings (ICO) and may be considered as securities too, as per Commissioner Aquino.
Bangko Sentral ng Pilipinas (BSP), the country's central Bank is also open-minded towards FinTech innovations.
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