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Regulatory · Philippines · Sat 3 Oct · 1 min read

Philippine crypto traders back BSP oversight, with caveats

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What happened

Industry participants publicly welcoming tighter BSP oversight of crypto signals that the Philippine crypto sector has moved past the reflexive resistance phase and into a posture of regulatory engagement. That is strategically important: operators and exchanges that align early with BSP's evolving framework will have more influence over how rules are written than those who wait.…

Sources: Google News

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  1. South Korea drafts stablecoin rules, eyes crypto tax repealSouth Korea moving simultaneously toward stablecoin regulation and potential crypto tax repeal is the most consequential regional regulatory development for Southeast Asian crypto markets this week. If the tax repeal passes, Korean retail demand for crypto assets rebounds sharply, which adds a significant demand-side driver to the same BTC price environment Philippine operators are managing cashier risk around. The stablecoin regulatory framework, meanwhile, gives Philippine regulators and BSP a nearby precedent to benchmark against as they develop their own rules, which means whatever South Korea finalizes in the next six months is likely to appear in BSP consultation papers shortly after.Regulatory