Philippine Stock Exchange hopes to become cryptocurrency exchange after approval

Philippine Stock Exchange hopes to become cryptocurrency exchange after approval
The Philippine Stock Exchange (PSE) hopes to become a platform for cryptocurrency asset trading when the country’s regulator releases long-awaited regulations, CNN Philippines reports.
Ramon Monzon, president and CEO of the Philippine Stock Exchange, told CNN that management first discussed the idea of ​​establishing a domestic cryptocurrency exchange two weeks ago. In addition, he said the Philippine Stock Exchange has the necessary trading infrastructure and investor protection measures to trade cryptocurrencies.
Monzon told CNN that the growing interest in cryptocurrencies means the Philippines can no longer ignore them. The PSE is currently awaiting guidelines from the Philippines Securities and Exchange Commission, which began seeking input from banks, investors and the public in 2019 on whether the country should start establishing a domestic cryptocurrency exchange.
The Philippine government has historically been friendly to digital assets. Although the central bank has been outspoken that it will not consider developing a central bank digital currency anytime soon, the bank has authorized more than a dozen cryptocurrency exchanges to operate in the country. Many Filipinos have become interested in cryptocurrencies as a way to make money in the country's struggling economy, and cryptocurrency mobile games like Axis Infinity have become a popular way to earn extra income.
Monzon told CNN that he believes the volatility of cryptocurrencies makes them attractive, which is why trading should be done under the supervision of the PSE. After all, such transactions can make people rich or poor in an instant.



<<:  Revolut in talks with SoftBank for more than $30 billion investment

>>:  Interpreting Enjin, the flagship of crypto games: What you need to know about the new trends of Metaverse + NFT

Recommend

What mole can avoid disaster and bring good luck?

What mole can avoid disaster and bring good luck?...

What kind of men still have a "virgin complex"

What kind of men still have a "virgin comple...

What is the difference between Tianzhu pattern and Xuanzhen pattern?

The forehead is a very important position in phys...

What is Danfengyan? What is the personality of people with Danfengyan?

If a person's eye tails are upturned and the ...

What does a shameless person look like? They are the ones who are shameless.

I believe that everyone has met shameless people ...

Analysis of facial features for those who are blessed in old age: People with these facial features will be more blessed as they get older

When people get old, they all hope to have the re...

Unraveling the mystery of Zhongying Internet and Yibang's lawsuit, 100,000 mining machine transactions are in a Rashomon

Source: Securities Times, original title: "R...

Bitcoin: Several dormant whale addresses activated

The Russian Ministry of Defense will stop militar...

Let you see through those scumbags in minutes

In this era where scumbags are rampant, it is rea...

Why I can hold Bitcoin with peace of mind when Bitcoin exchanges are under policy raids

Chapter 0 Introduction The policy initiative to &...

What is the difference between moles and freckles?

What is the difference between a mole and a nevus...

Has the crypto market really entered a cold winter? At least this bear market is completely different from 2018

“Has the market bottomed out?” That’s the billion...

Is it true that women with upturned eyes have bad luck with marriage?

Are women with upturned eyes good? Among the five...

Germany’s BaFin approves Coinbase’s cryptocurrency custody license

Since January 2020, all cryptocurrency companies ...

Dutch Central Bank Develops Blockchain-Based Prototype Currency 'DNBCoin'

According to the latest news, the Dutch Central B...