philippines

Bitget, through the Blockchain4Her program, continues to promote the popularization of Web3 women's education and community building in emerging markets such as the Philippines. This program focuses on providing a systematic blockchain knowledge framework for women and youth, helping them participate in the long-term development of Web3 with a solid understanding and gain more substantial opportunities within the industry.To achieve this goal, Blockchain4Her has supported several grassroots initiatives led by local female advocates. These include: transforming blockchain technology into practical development opportunities for underdeveloped communities; developing exclusive learning materials titled "Young Learners' Encyclopedia" for youth; and building a learning community focused on risk control and trading discipline. These initiatives not only help local beginners avoid misinformation and establish a rational understanding of Web3 but also align closely with Bitget's partnership with UNICEF in promoting digital skills and blockchain education globally.Bitget CEO and Blockchain4Her founder Gracy Chen stated, "Our original intention is to provide a more equal and open environment for women to explore Web3. Seeing more and more outstanding women engaging in community building shows us how true industry inclusivity takes root and flourishes from the grassroots."

The Securities and Exchange Commission (SEC) of the Philippines has issued an investor warning, reminding the public not to invest in seven cryptocurrency trading platforms including dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium.The SEC stated that the aforementioned platforms are not registered with the commission and have not obtained the necessary authorization required under the cryptocurrency asset service provider (CASP) framework. At the same time, the SEC warned that individuals promoting these platforms within the Philippines may be held criminally liable, facing fines of up to 5,000,000 Philippine pesos (approximately 89,000 USD) or a maximum of 21 years in prison.

According to Cointelegraph, Philippine internet service providers (ISPs) have begun to block major cryptocurrency trading platforms after regulators started to tighten local licensing regulations for cryptocurrency service providers.Users have reported that Philippine users are unable to access global cryptocurrency exchanges Coinbase and Gemini, with multiple local ISPs unable to access these two platforms. The ISPs' blocking actions are carried out under the orders of the National Telecommunications Commission.The order instructs service providers to restrict access to 50 online trading platforms that have been identified by the Bangko Sentral ng Pilipinas (BSP) as operating without authorization.

According to Cointelegraph, Philippine internet service providers (ISPs) have begun to block major cryptocurrency trading platforms after regulators started to strengthen local licensing regulations for cryptocurrency service providers.Users have reported that Philippine users are unable to access global cryptocurrency exchanges Coinbase and Gemini, with multiple local ISPs unable to access these two platforms. The ISP blocking actions are being carried out under the orders of the National Telecommunications Commission. The order instructs service providers to restrict access to 50 online trading platforms that have been identified by the Bangko Sentral ng Pilipinas (BSP) as operating without authorization.The Bangko Sentral ng Pilipinas has not released a complete list of the platforms affected by this order. However, this change indicates that local regulators are shifting from an informal tolerance approach to enforcement, with local licensing becoming a decisive factor for market entry in the Philippine cryptocurrency sector.

Bitget announced that its Blockchain4Youth (B4Y) educational program has completed a new round of Starlink satellite network deployment in remote island areas of the Philippines, bringing high-speed and stable internet access to six schools in Surigao del Norte, Siquijor, and Negros Oriental. This deployment has provided a reliable network environment for over 7,300 students and more than 100 teachers. For schools that have long relied on paper-based materials or have been hindered by unstable networks, this deployment allows them to truly depend on high-speed internet for teaching.

According to a report by the Philippine Digital Asset Exchange (PDAX), the market for tokenized assets in the Philippines is expected to reach $60 billion by 2030.The Project Bayani white paper released by PDAX in collaboration with Saison Capital and Onigiri Capital indicates that this forecast encompasses the blockchain tokenization growth of government bonds, stocks, mutual funds, and other investment products. The report notes that over 14% of Filipinos already own cryptocurrency, while the ownership rates for stocks and bonds are only 2.4% and less than 1%, respectively.

ChainCatcher news, according to Decrypt, the Philippine Senate is reviewing Bill No. 1330, which was introduced by Senator Paolo Benigno "Bam" Aquino IV at the end of August. The bill plans to allocate approximately $8.6 million to put the national budget records on the blockchain, aiming to enhance government spending transparency and curb corruption.The backdrop of this move is the public's strong concern over alleged irregularities in approximately $9.2 billion infrastructure projects. However, several legal experts have expressed concerns about this. Former Philippine Attorney General Florin Hilbay warned that merely using blockchain technology does not automatically promote transparency or prevent corruption, and may instead simplify it to a "marketing tool." Technology law expert Russell Geronimo pointed out that the issue lies not in the lack of an immutable ledger, but in the weak mechanisms for procurement oversight, auditing, and whistleblower protection.The Philippine Fintech Lawyers Association cautioned that private entities controlling blockchain infrastructure could lead to the de facto privatization of public data, recommending that the government retain ownership and control over budget data and adopt open-source protocols to prevent vendor lock-in and monopolies.

ChainCatcher news, according to NLNico, Philippine Congressman Migz Villafuerte has submitted HB 421, a bill proposing the establishment of a strategic Bitcoin reserve for the Philippines.The proposal suggests that the Bangko Sentral ng Pilipinas (BSP) purchase 2,000 Bitcoins annually over 5 years, accumulating a total of 10,000 Bitcoins, and hold them for 20 years, aiming to strengthen national security and debt stability.

ChainCatcher news, according to Cointelegraph, the Philippines Securities and Exchange Commission (SEC) has released a consultation report naming 10 major cryptocurrency exchanges, including OKX, Bybit, KuCoin, Kraken, and others, for operating without authorization under the country's new cryptocurrency regulations.The alert states: "These platforms do not have the permission, registration, or authorization from the Philippines Securities and Exchange Commission and are unable to operate or solicit investments from the public in the Philippines." The alert also adds: "Their unauthorized actions pose significant risks to Philippine investors."

ChainCatcher news, according to Adobo Magazine, users of Grab in the Philippines can now top up their GrabPay wallets using cryptocurrency.This feature is made possible through Grab's collaboration with payment service provider Triple-A and local digital asset exchange PDAX. Users can top up their GrabPay wallets with various cryptocurrencies, including Bitcoin, Ethereum, USDC, and USDT.

ChainCatcher news, the AI-driven cryptocurrency payment protocol AEON has announced the expansion of its offline cryptocurrency payment product AEON Pay to the Philippines, supporting the country's central bank-promoted QR payment standard QR Ph. Local users can scan QR codes at merchants that support QR Ph to pay with cryptocurrency, enhancing the usability and compatibility of crypto assets in offline consumption scenarios.AEON Pay currently supports cryptocurrency payments at over 20 million merchants and more than 10,000 brands worldwide.

ChainCatcher news, according to Beincrypto, Chainlink community liaison Zach Rynes posted a reminder on the X platform stating: "This is the latest example of misinformation rampant in the XRP community. This time, we discovered a fake KYC account from the Philippines impersonating the U.S. Treasury and issuing fake tokens on the XRPL."The scam post related to the U.S. Treasury XRP wallet spread rapidly once published, with several popular X accounts retweeting it. This fake wallet is said to have interacted with major institutions such as Bank of America and JPMorgan, but on-chain analysis shows it is located in the Philippines, indicating that a non-U.S. account has clearly activated this counterfeit Treasury wallet. Rynes stated that trained individuals can immediately recognize the warning signs in this incident, but "it's hard to know how to address social media scams like this."

ChainCatcher news, several Philippine banks, including UnionBank, Rizal Commercial Banking, Cantilan Bank, and Rural Bank of Guinobatan, plan to launch a peso stablecoin named PHPX later this year, initially operating on the Hedera Distributed Ledger Technology (DLT) network.This project is initiated by the Singapore startup Just Finance, and the banks will play a significant governance role. Cross-border payments, especially remittances, are one of the key use cases for this project.

ChainCatcher news, the Philippine Securities and Exchange Commission (SEC) has introduced comprehensive regulations for cryptocurrency asset management, covering disclosure, public offerings, trading, and marketing activities. These regulations aim to enhance investor protection and promote transparency in the burgeoning digital asset market.According to the new guidelines, cryptocurrency asset issuers must submit disclosure documents to the SEC at least 30 days prior to any marketing activities or public sales. This document must detail the provider of the cryptocurrency asset, the issuer, key features, risks, and underlying technology, as well as clearly state potential risks, including value loss and limited transferability.Cryptocurrency assets classified as securities must obtain a registration statement approved by the SEC before public offering. Entities issuing or trading cryptocurrency assets must comply with anti-money laundering (AML) laws and SEC reporting requirements. It emphasizes that non-compliance may result in fines, suspension, or revocation of licenses. (Crowdfund Insider)

ChainCatcher news, the Bangko Sentral ng Pilipinas (BSP) plans to tighten reporting requirements for virtual asset service providers (VASP) to enhance data collection and supervision. The BSP released a draft notice over the weekend, revealing that a new reporting portal for all VASPs will be launched by January 1, 2025.The notice outlines the new reporting requirements aimed at bridging data gaps, reducing information discrepancies, improving data collection, and enhancing the quality of data related to virtual assets and VASPs.According to the bank, VASPs will be required to submit 13 reports at different intervals. Monthly, they must submit two reports on transaction volume, value, and total assets under custody. Seven reports are required quarterly, including data on operational offices, websites, and account holder statistics. Additionally, three reports must be submitted biannually. An audited financial statement must also be provided annually.VASPs must submit currency service business reports using existing channels in the first two quarters of 2025. After that, unless otherwise instructed, all submissions must switch to the new reporting portal.Entities that fail to comply with these requirements will face enforcement actions. VASPs must submit feedback on the proposed changes by December 13.

ChainCatcher news, Sydney Lai, co-founder of Gaia and head of developer relations, was interviewed by ABS-CBN News in the Philippines, where he shared Gaia's future vision for AI.It is reported that Gaia is a decentralized open-source artificial intelligence infrastructure platform that enables developers to create, deploy AI agents, and profit from them. The platform provides secure, collaborative AI development through decentralized applications, thereby realizing a transformative AI ecosystem based on the principles of decentralized computing and data ownership.