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What are the potential consequences of the Philippine central bank's decision to halt accepting crypto license applications for investors and traders?

avatarBorup HensleyDec 25, 2021 · 3 years ago1 answers

What are the potential consequences for investors and traders following the Philippine central bank's decision to stop accepting cryptocurrency license applications?

What are the potential consequences of the Philippine central bank's decision to halt accepting crypto license applications for investors and traders?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    As a representative of BYDFi, I can say that the decision by the Philippine central bank to halt accepting crypto license applications is unfortunate. It creates uncertainty for investors and traders who were planning to enter the Philippine market. However, it's important to remember that the cryptocurrency industry is constantly evolving, and regulatory decisions can change. While this decision may have short-term consequences, it also presents an opportunity for the industry to work towards clearer regulations and guidelines. In the long run, this could lead to a more stable and secure cryptocurrency market in the Philippines. In the meantime, investors and traders can explore other markets or utilize decentralized platforms to continue their cryptocurrency activities.