Elena
Thu Jul 11 2024
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7 answers
1865
What is a stablecoin regulated by the BSP?
As a curious observer in the realm of cryptocurrency and finance, I am often intrigued by the intersection of innovation and regulation. Could you elaborate on what a stablecoin regulated by the BSP entails? I understand that stablecoins aim to maintain a stable value relative to a reference asset, such as a fiat currency. However, when you mention regulation by the BSP, I am curious about the specific oversight mechanisms and requirements that these stablecoins must adhere to. I would appreciate a concise yet comprehensive description of the key features and regulatory framework surrounding BSP-regulated stablecoins.
Eleonora
Sat Jul 06 2024
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7 answers
2332
How does the BSP regulate crypto exchanges?
Could you elaborate on the regulatory framework employed by the Bangko Sentral ng Pilipinas (BSP) in overseeing crypto exchanges in the country? Are there specific rules and standards crypto exchanges need to adhere to? Are there measures taken to protect investors from fraud and scams? Are there reporting requirements or regular audits conducted to ensure compliance? Additionally, how does the BSP monitor the market and assess the risks associated with crypto trading activities? What happens if a crypto exchange violates the regulations? Lastly, does the BSP collaborate with other regulatory bodies globally to share information and best practices in regulating crypto exchanges?
