Philippines plans ICO regulation

The Philippines considers regulating of initial coin offerings (ICOs)
04 December 2017   390

Since November, the Securities and Exchange Commission (SEC) is in negotiations with the Bangko Sentral ng Pilipinas (BSP), concerning the licensing of cryptocurrency exchanges and ICOs.

According to BSP Governor Nestor Espenilla, companies aim to promote ICOs and serve as a central counterparty for tokens trade to explore the benefits of this realm.

The use of bitcoin and altcoins is rapidly increasing. Bangko Sentral estimates remittance transactions using bitcoin are now worth about $6 million a month, three times the volume seen last year and it drew attention of local regulators.

Philip 04.12.17 btc volumeWeekly LocalBitcoins Volume (Philippine Peso)

The SEC is concerned about possible unlicensed investment-taking activity or otherwise selling of investment contracts in the guise of so-called cryptocurrencies via a so-called initial coin offering.

 

Ephyro Amatong

Commissioner of the Securities and Exchange Commission (SEC)

Bangko Sentral in February asked businesses using digital currencies to register as a remittance company and report suspicious transactions. Nestor Espenilla said that companies had welcomed that development.

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ACTN Token Distribution About to Close

The users have last chance to get their 1000 free ACTN tokens as the token distribution for registration closes on March 1, 2018
21 February 2018   47

The Action Coin Platform represents over 500,000 Action collectors and customers from more than 200 countries and territories. It is the basis of an incentive-driven rewards program with “points” that are rewarded in the form of a decentralized, blockchain-based digital asset known as Action. Action may be redeemed for member-only discounts on a growing list of products and services offered through its business network.

ActionCoin has announced that the users who sign up are entitled to receive 1,000 FREE ACTION during the official token distribution event (Airdrop) scheduled to commence on March 1, 2018.

The two first phases of ACTN token pre-sale are already finished, and the third one will be held from February 21 to 25, with 250,000,000 Action tokens to be sold for $0.02 USD each.

BTC, ETH, XRP, XLM, LTC, NXT are accepted during the presale. The current market rate will be locked in at the beginning of each presale phase, for the entire phase.