An Institute in Philippine Publishes a Report Regarding Cryptocurrency Use by Terrorists

One of the criticisms surrounding cryptocurrencies is the ability of people to use it to finance illegal and disastrous activities such as terrorism, kidnapping, and more. This has led to several researches by individuals, agencies, as well as organizations regarding the issue. The Philippines Institute for Peace, Violence and Terrorism Research (PIPVTR) published a report on May 20 which reveals recent transactions by terrorist groups related to Islamic State (IS) in Southeast Asia. The institute noted an increase in terrorism…

Singapore, Dubai and the Philippines Pilot Crypto Industry Expansion

On the 28th of January, the Payment Services Act of Singapore allowed crypto-related firms to apply for operating licenses. Additionally, the Act provides a regulatory framework for dealing with crypto-trading and digital payments operations. The Monetary Authority of Singapore, MAS, is in charge of regulation for crypto payments services, domestic transactions, and merchant regulation, which outlines the Act. Similarly, the MAS is also in charge of mitigating cyber-security risks and establishing controls to deal with the funding of terrorism and…

IMF Assistance to The Philippines Pushes towards A Visible Crypto Market

The Philippines' region accepts assistance from the International Monetary Fund (IMF) based on the digital currencies' cryptocurrency technicalities. It followed the IMF's beliefs in the possibility that the region will exhibit a large market for cryptocurrencies. The organization has assisted the BSP, the central bank of the region, in recommendations that reflect on the regulation of cryptocurrencies; this is explained from data collected based on cryptocurrency exchanges approved quarterly.  IMF Report The thirty-four pages report presented by the International Monetary Fund on…