Recently, the Philippines' SEC (Securities and Exchange Commission) annouced to consider FinTech (Financial Technology) or the Cryptocurrency as a whole as Securities.
Simply put, the Philippine Government aims for the proper legalization of ICO's or Initial Coin Offerings provided that Phil's Securities Regulation Code will be applied.
Just this year, the Philippine Stockmarket delisted Calata Corp. from its formal stocks exchange due to some improprieties. Instead, Calata Corp. shifted into public fundraising, and released the idea of Calcoin through ICO. Great idea Calata!
I hope the Philippine Government's move of legalizing Cryptocurrency will create a big impact in educating the Filipinos about its huge potential in investments.
May this step eradicate the notion of some Pinoys that Bitcoin is just a "scam".
Perhaps, this could give more Pinoys a chance not to be far from their families just to earn abroad.
How about you? What are your thoughts for this news?
You can read more of the News here
interesting...and thanks for the info
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STOPIt is better to have this crytocurrency in the Philippines. Beside this one of he great platform all over the world. thank for this nice information to shared his hope this will a biggest leap soon. Thanks again @smaeunabs
As long as SEC will not create moves that could hinder the idea of Cryptocurrency as a decentralized network.
Just like what they did to Monspace, with MSD or Monspace Dollars as their crypto months ago. They tend to belittle it and accused it for being a scam. They even threatened to punish whoever promotes it in any means.