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Author Topic: ICO Regulations in the Philippines  (Read 164 times)
Cupomi
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September 27, 2018, 02:58:46 AM
 #21

the Philippine government will issue virtual currency regulations with the aim of protecting investors from being safe from fraud, global pilstar also expects all ICO organizers to register with the SEC, they assume ICO with cryptocurrency anonymously increases the chances of fraud.
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September 27, 2018, 06:21:20 AM
 #22

Since the best Export of the Philippines is their people (OFW), I can say that adopting cryptocurrency/blockchain technology is really a good idea so OFW's can now transfer money easily without going to any remittances. Philippines is a great place for cryptocurrency only if all people know how to invest, well its hard for the government to do that but this simple steps can become more big in the future.
Maybe you don't understand the basics of economics, The Philippines' citizens is not the only factor for their economic growth, as the government is actually doing a bold move with regards to cryptocurrency, just recently the Philippines particularly the province of Cagayan created CEZA short for Cagayan Economic Zone Authority which is focused on bringing in foreign investors particularly in the industry of trading, there is a maximum of 25 licenses to be given and a minimum worth of investment of 25 million dollars to be handed of for the first two years. Simply this news tells us if these foreign companies need to earn their investment back they need to persuade Filipinos to invest in their businesses which will be another strategy for them.

So its going to be a win-win situation if foreign body decided to go and registered in the Philippines and established their own ICO HQ there. Similar to what Singapore (another Asian country) is doing. That's why you will see many starts-up project are now base on Singapore. Perhaps we will see one day Philippines going on that direction as well. I'm looking forward to a day wherein Filipinos will have its own Projects, bolstering the economy and the crypto air in the country so that we can attract foreign entities to choose The Philippines. It will be really awesome to see that in the future.

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September 29, 2018, 02:26:02 PM
 #23

the Philippine government will issue virtual currency regulations with the aim of protecting investors from being safe from fraud, global pilstar also expects all ICO organizers to register with the SEC, they assume ICO with cryptocurrency anonymously increases the chances of fraud.


What the Philippine government has done is good enough to protect investors from fraudsters. But we also cannot avoid fraudsters if we are careless.
This step is good and certainly, a positive response will be obtained from various circles.

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September 29, 2018, 05:19:01 PM
 #24

ICO Regulations can also help to stop shitty ICO's which makes a bad image when it comes to cryptocurrency and most Scam investment that is advertise by greedy people. But, taxes for sure will be implemented into fund raising such as ICO to support the running project. However it is a good start to government of the republic of the Philippines to recognize crypto currency and its benefits. (:

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zahed
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September 29, 2018, 06:03:03 PM
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Thanks for the providing SEC initial draft PDF link, I read the maximum pages and i understood in Philippines crypto user will be happy for making the very supporting ICO regulation. Total 37 pages and clearly details here and it will be working in scam project.

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September 29, 2018, 06:44:00 PM
 #26

So its going to be a win-win situation if foreign body decided to go and registered in the Philippines and established their own ICO HQ there. Similar to what Singapore (another Asian country) is doing. That's why you will see many starts-up project are now base on Singapore. Perhaps we will see one day Philippines going on that direction as well. I'm looking forward to a day wherein Filipinos will have its own Projects, bolstering the economy and the crypto air in the country so that we can attract foreign entities to choose The Philippines. It will be really awesome to see that in the future.
That is what it is intended to do, attracting foreign investors with licenses and agreements and at the same time being a friendly country to the cryptocurrency market is a perfect situation for them. It also gives them a pretty big space for movement and the good thing about this licenses is they are only limiting the competition for up 25 organizations meaning you will have 24 companies to watch and monitor compared to other countries where you are competing hundreds of them. I just hope that aside from the new foreign funds coming inside the country they will practice hiring local labor instead of hiring foreigners in order for the Philippines to benefit more.

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