News list for "Philippine law"
The Central Bank of the Philippines (BSP) said recently that it has completed a proof-of-concept trial of its Agila Project Wholesale Central Bank Digital Currency (wCBDC) with other Financial Institution Groups. Specifically, the latest trial tested whether banks in the Philippines can make payments to each other outside banking hours such as evenings, weekends, and holidays. BSP Governor Eli M. Remolona, Jr., said: "Wholesale CBDCs have the potential to enhance liquidity management, reduce set...
The Central Bank of the Philippines (BSP) has alerted the public to video and audio scams involving artificial intelligence manipulation involving related misinformation such as advertising cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not support the so-called cryptocurrency project "Tesler Code" or any other cryptocurrency investments. Misrepresenting the BSP or its officials is a punishable offense. To avoid falling victim to these scams, the BSP advise...
The Department of Justice (DOJ) of the Philippines has charged two Russian citizens with stealing 340 million Philippine pesos ($6.20 million) worth of XRP cryptocurrency from a local cryptocurrency exchange. The suspects allegedly hacked into Coins.ph system to commit the theft. According to the charges filed with the Taguig Regional Trial Court, the defendants Vladimir Evgenevich Avbeyv and Sergey Yaschuck will face charges under Republic Act No. 10175, Cybercrime Prevention Act of 2012.
On July 8th, the stablecoin PHPC officially supported by the Central Bank of the Philippines has now launched Ronin Network, which is supported by the Philippine crypto trading platform Coins.ph. Previously, on April 10th, Tether announced that it will cooperate with the Philippine crypto trading platform Coins.ph to carry out blockchain education programs. In addition, the two sides will join hands to promote financial education in blockchain technology, bitcoin and stablecoins.
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