{"id":9109,"date":"2021-07-04T10:56:07","date_gmt":"2021-07-04T10:56:07","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/philippine-stock-exchange-eyes-cryptocurrency-trading-says-its-an-asset-class-that-we-cannot-ignore-anymore\/"},"modified":"2021-07-04T10:56:07","modified_gmt":"2021-07-04T10:56:07","slug":"philippine-stock-exchange-eyes-cryptocurrency-trading-says-its-an-asset-class-that-we-cannot-ignore-anymore","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/philippine-stock-exchange-eyes-cryptocurrency-trading-says-its-an-asset-class-that-we-cannot-ignore-anymore\/","title":{"rendered":"Philippine Stock Exchange Eyes Cryptocurrency Trading \u2014 Says \u2018It\u2019s an Asset Class That We Cannot Ignore Anymore\u2019"},"content":{"rendered":"

The national stock exchange of the Philippines, the PSE, says cryptocurrency is \u201can asset class that we cannot ignore anymore.\u201d The stock exchange further says cryptocurrency trading \u201cshould be done at the PSE,\u201d given its infrastructure and investor protection safeguards.<\/strong><\/p>\n

The Philippine Stock Exchange (PSE), the national stock exchange of the Philippines, is reportedly eyeing cryptocurrency trading. President and CEO Ramon Monzon said Friday that the PSE should be the exchange platform for crypto assets, CNN Philippines reported Friday.
\nNoting that the matter was discussed during a top management meeting two weeks ago, Monzon said, \u201cIt\u2019s an asset class that we cannot ignore anymore.\u201d He was quoted as saying:<\/p>\n

If there should be any exchange for cryptos, it should be done at the PSE. Why? Number one, it\u2019s because we have the trading infrastructure. But more important, we\u2019ll be able to have investor protection safeguards especially with a product like crypto.<\/p>\n

He explained that many people are attracted to cryptocurrencies \u201cbecause of the volatility.\u201d However, he warned that \u201cInstant riches could be instant poverty too.\u201d
\nThe stock exchange chief further explained: \u201cUnfortunately, we are not in a position to do that now kasi wala pa tayong rules from the regulator eh (because we don\u2019t have rules yet from the regulator),\u201d according to the publication. He additionally opined:<\/p>\n

We\u2019re waiting for the rules from the Securities and Exchange Commission (SEC) on how crypto or digital asset trading will be governed.<\/p>\n

<\/p>\n

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has registered 17 cryptocurrency exchange service providers so far.
\nThe central bank established<\/a> new guidelines for crypto asset service providers in January after seeing \u201caccelerated growth\u201d in the use of cryptocurrencies in the past three years. \u201cIt is high time that we broaden the scope of existing regulations in recognition of the evolving nature of this financial innovation and set out commensurate risk management expectations,\u201d the central bank wrote.<\/p>\n

Do you think the Philippine Stock Exchange should offer cryptocurrency trading? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nExchanges, bitcoin philippine, Crypto regulation, cryptocurrency listing, cryptocurrenty trading, philippine crypto, philippine stock exchange, philippines cryptocurrency, PSE<\/p>\n","protected":false},"excerpt":{"rendered":"

The national stock exchange of the Philippines, the PSE, says cryptocurrency is \u201can asset class that we cannot ignore anymore.\u201d The stock exchange further says cryptocurrency trading \u201cshould be done at the PSE,\u201d given its infrastructure and investor protection safeguards. The Philippine Stock Exchange (PSE), the national stock exchange of the Philippines, is reportedly eyeing…<\/p>\n","protected":false},"author":0,"featured_media":9110,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9109"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9109"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9110"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}