Philippine Regulator to Keep Open Mind Regarding Cryptocurrencies 1Xbit Casino scam

Philippine SEC to Partner With Overseas Counterparts

The commissioner of The Philippines’ SEC, Emilio Aquino, has indicated that the regulator is developing regulations designed to govern transactions that were cryptocurrency.

Commissioner Aquino indicated the Philippines’ SEC is participating with U.S. and Australian counterparts to develop the regulations. The commissioner has emphasized the protection of investors being the principal mandate of the SEC, stating”We want to come up with our own set of regulations. You have to be extra cautious how investors in this new space are safeguarded.”

Although the commissioner conceded that the legislation is now in the”drafting stage,” he expressed his expectation that the regulatory framework will be developed”within the year and bitcoincasinoreview.info.”

ICOs Must Register With Philippine SEC

The Philippines’ SEC will permit companies to run ICOs, provided that they comply with the disclosure and registration requirements of the regulatorETHEREUM SWEEPSTAKES rating Aquino stated”The mindset of the commission has always been to foster innovation, but they should register,” adding”Unfortunately, there have been a good deal of cases where ICO promoters vanish into thin air. We don’t want it to happen here [...] We will need to act because initial coin offerings are sprouting.”

The announcement comes after the Philippines’ SEC filed a cease-and-desist order against four companies connected for violating securities laws. Mr. Aquino indicated that the SEC may opt to lift the order against Krops.

Philippine Regulator to Keep”Open Mind” Regarding Cryptocurrencies

Commissioner Aquino stated the Philippines has sought to keep”an open mind” regarding cryptocurrencies and distributed ledger technology (DLT), alluding to the potential reduction in fees that virtual money adoption could offer the roughly 10 million Philippine employees living abroad who are estimated to remit nearly $25 billion USD home annually.

Last year, The Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), developed laws governing the operation of digital currency exchanges. Two applicants have received approval so far, together with the deputy director and head of the BSP information technology specialist group indicating in December 2017 that the central bank was reviewing 12 applications from currency exchanges.

What do you make of the Philippine SEC’s statements concerning its forthcoming cryptocurrency regulations? Share your thoughts in the comments section below!

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Source: bitcoincasinoreview.info

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DOTcoin Casino 2019 Review! Check Newest No deposit Bonus listing!

usage dotcoin present cost is $0.00544 using a marketcap of $0. Miners are rewarded with 500 DOT,coins for every single block and also the Dotcoin Network creates one block every 2 minutes, making 360,000 new coins each day. So, what you are doing is driving up the price for, the businesses which are looking to REALLY BADLY put their coin on a market, so their own Market Cap can raise 10x. Therefore, what you're doing is forcing up the cost for the companies looking to REALLY BADLY in addition dotcoin to put their coin on an exchange, so their very own Market Cap can raise 10x. They've CryptopiaFeeShare (CEFS), which shares in the proceeds of this exchange.  It pays out after a month.  It's,current cost is $7,400 each.  There are just 6,300 available. go https://blockchaincasinos.online/ The news item on Cryptopia claims that they will swap them till July 2018, but currently they're probably swamped with hundreds of people a day requesting support what the gap between bitcoin and litecoin is, whether coins can be delivered by post etc etc..

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No Regulations Nevertheless bitcoin casino no deposit

Nearly 8000 Mining Rigs to be Imported

The Ho Chi Minh City (HMC) Customs Department has shown the number of mining rigs which are on the list to be imported during the first three weeks of January.

Nguyen Thanh Tuyen, the deputy director of the customs department, told the HMC Law Department on January 24 that between January 1 and 23, a total of 7,932 mining rigs are currently waiting to become customs-cleared, Tuoi Tre reported.  He added that the total value of the rigs is”almost $12.3 million…[and] the amount of tax paid to the [city's] funding is nearly 28 billion dong [~$1.23 million].”  Tianphong elaborated:

Currently, bitcoin mining rigs’ purchase price is high, from 70 to 80 million [VND]; a few areas even [sell them for] around 100 million [VND] per machine.

The book noted that mining rigs are imported from China, including although they cost approximately 20-25 million dong each but were sold dong each in early 2016.  By mid-2017,”the amount of mining rigs increased to VND 45-60 million per machine and at present, although the purchase price of bitcoin diminished, the purchase price of mining rigs still increased to VND 80-90 million per machine,” the publication added.

News and bitcoin gaming and casino games.Bitcoin. Com reported that a total of 7,005 mining rigs that were known were imported in 2017. The majority of them, 5,527 rigs, were imported between November and December 21.  Only 1,478 rigs were declared entering the country between January 1 and October 31 of last year, according to the HMC Customs Department.

No Regulations Yet

Tuyen explained that mining rig imports and mining operations in the city are”still normal since there are no regulations for the import of such products,” Tianphong quoted him. Presently,”the State Bank has verified that bitcoin and other similar virtual currencies aren’t legal way of payment in Vietnam” and residents using them as such”will be fined 150-200 million [VND], and can be subject to criminal prosecution from January 1, 2018,” the publication highlighted.

Nguyen Hoang Minh, deputy manager of the State Bank’s HMC branch, was quoted saying:

Virtual currency generally, and bitcoin and litecoin in particular, are not currencies and are not legal means of payment.

What do you think of this Vietnamese mining sector growing so fast?  Tell us in the comments section below.

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Source: bitcoincasinoreview.net

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Philippine Regulator to Keep Open Mind Regarding Cryptocurrencies 1Xbit Casino scam

Philippine SEC to Partner With Overseas Counterparts

The commissioner of The Philippines’ SEC, Emilio Aquino, has indicated that regulations designed to govern transactions that were cryptocurrency are being currently developed by the regulator.

Commissioner Aquino indicated that The Philippines’ SEC is engaging with U.S. and Australian counterparts to develop the regulations. The commissioner has highlighted the protection of investors being the principal mandate of the SEC, saying”We want to come up with our own set of regulations. You have to be really careful how investors in this new space are protected.”

Although the commissioner conceded that the legislation is now in the”drafting stage,” he voiced his expectation that the regulatory framework will be developed”within the year and bitcoincasinoreview.info.”

ICOs Must Register With Philippine SEC

The Philippines’ SEC will permit businesses to conduct ICOs, provided that they comply with the disclosure and registration requirements of the regulatorbitcoin casino 10 euro best anonomous bitcoin casino Aquino said”The mindset of the commission has always been to foster innovation, but they need to register,” adding”Unfortunately, there have been a good deal of instances where ICO promoters vanish into thin air. We don’t want it to happen here [...] We will need to act because initial coin offerings are sprouting.”

The announcement comes after a cease-and-desist order filed against four companies for violating securities laws associated with the Krops ICO. Mr. Aquino suggested that the SEC may opt to lift the order against Krops.

Philippine Regulator to Maintain”Open Mind” Regarding Cryptocurrencies

Commissioner Aquino stated that The Philippines has sought to keep”an open mind” regarding cryptocurrencies and distributed ledger technology (DLT), alluding to the potential decrease in fees that virtual currency adoption could provide the approximately 10 million Philippine employees living abroad who are estimated to remit almost $25 billion USD home each year.

Last year, The Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), developed legislation regulating the operation of digital currency exchanges. Two applicants have received approval up to now, with the director and head of the BSP information technology specialist group suggesting in December 2017 that the central bank then reviewed 12 applications from prospective virtual currency exchanges.

What do you make of the Philippine SEC’s statements concerning its forthcoming cryptocurrency regulations? Share your thoughts in the comments section below!

Pictures courtesy of Shutterstock, Wikipedia

Have to compute your bitcoin holdings? Check our tools section.

Source: bitcoincasinoreview.net

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