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Recently virtual currencies were legalized and cryptocurrency exchanges are now regulated by Central Bank of the Philippines (Bangko Sentral ng Pilipinas) under Circular 944; however bitcoin and other "virtual currencies" are not recognized by the BSP as currency as "it is neither issued or guaranteed by a central bank nor backed by any commodity."
Major, regulated currencies — such as the euro or U.S. dollar — tend to be fairly stable and backed by a government. Conversely, cryptocurrencies are extremely volatile for a couple of reasons ...
The Bangko Sentral ng Pilipinas (BSP) has approved the accreditation of two new virtual currency exchanges, bringing the total number of regulated crypto exchanges in the country to five. In a ...
One of the first cryptocurrencies to use scrypt as a hashing algorithm. 2011 Namecoin: NMC Vincent Durham [11] [12] SHA-256d: C++ [13] PoW: Also acts as an alternative, decentralized DNS. 2012 Peercoin: PPC Sunny King (pseudonym) [citation needed] SHA-256d [citation needed] C++ [14] PoW & PoS: The first cryptocurrency to use both PoW and PoS ...
The Securities and Exchange Commission (Filipino: Komisyon sa mga Panagot at Palitan; SEC) is the agency of the government of the Philippines charged with the registration and supervision of corporations and securities, as well as capital market institutions and participants, in the Philippines. The commission promotes investor protection in ...
NEW YORK (Reuters) -The U.S. Securities and Exchange Commission said on Wednesday it is appealing a court ruling that restricted its ability to regulate cryptocurrency markets. Wall Street's main ...
By extension, a cryptocurrency is not directly affected by a specific country's jurisdiction, sociopolitical environment, or economic events. [18] Such a lack of regulation has led to the rising of large-scale crypto-related criminal activity, ranging from terrorist funding to tax evasion, most of which go untracked and unpunished.
The SEC is looking at how to regulate cryptocurrency trading exchanges, including separating out crypto market makers.