Here are some of the latest news and updates in the Philippine crypto and blockchain industry you might have missed:
Philippines House Bill 4792 Proposes National Framework for Crypto, RWA, DeFi, and Crypto Exchanges
Philippines House Bill No. 4792 proposes establishing the NCDATI to create a national framework for digital asset regulation and adoption. It aims to guide RWA tokenization, cryptocurrency adoption, stablecoin use, crypto exchange development, DeFi promotion, and retail crypto payments. The bill seeks to protect investors, build public trust, attract investment, and position the Philippines in Southeast Asia's digital economy. It is currently pending its first reading. (BitPinas)
Can the Philippines Be the Launchpad for Southeast Asia’s First Crypto Powerhouse?
Coins.ph CEO Wei Zhou sees the Philippines as the launchpad for Southeast Asia's first major crypto powerhouse, leveraging the region's strong momentum and the Philippines' favorable demographics, high crypto adoption, and role in global remittances. He highlights Coins.ph's multiple regulatory licenses (e.g.crypto exchange, EMI) and millions of users. Zhou plans to use his experience to overcome the lack of technical talent, aiming to rebuild Coins.ph into a "beachfront Four Seasons" that serves both consumers and institutional payments globally, with expansion already in Australia, Brazil, and Mauritius. (Fintech News)
Philippines Turns to Blockchain After Mass Protests Over Corruption
The Philippines is adopting blockchain to fight corruption, driven by public demand for transparency. The "Blockchain the Budget Act" will record the national budget on a secure ledger, enabling real-time public tracking of government spending. This move aims to modernize financial systems, deter fraud, and boost public trust. (Yahoo Finance)
Crypto’s real boom is happening in Argentina, Nigeria, and the Philippines
WeFi Group CEO Maksym Sakharov shares an opinion that the crypto industry's focus on regulatory clarity and institutional adoption in developed Western markets overlooks the growth potential of emerging economies like Lagos, Buenos Aires, and Manila. He believes that while Western markets prioritize speculative gains, countries like India, Nigeria, Vietnam, and the Philippines, which lead in global adoption, are driven by a need for financial utility. (CoinTelegraph)