Cryptocurrency Q&A
Why do crypto exchanges in the Philippines only offer instant conversion rate?
Why do crypto exchanges in the Philippines only offer instant conversion rate?
ethan_carter_engineer
Wed Jul 03 2024
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7 answers
1418
Could you elaborate on why cryptocurrency exchanges in the Philippines predominantly offer only instant conversion rates? It seems to limit the flexibility for traders to capitalize on potential market fluctuations. Are there regulatory constraints that force this approach? Or is it a matter of technical limitations? Understanding the rationale behind this decision would help traders in the Philippines make more informed decisions regarding their cryptocurrency investments.
7 answers
EthereumEagle
Fri Jul 05 2024
Currently, the Philippines is in the process of formulating ICO regulations, which will be under the purview of the Securities and Exchange Commission (SEC).
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Riccardo
Fri Jul 05 2024
In the current regulatory framework in the Philippines, licensed cryptocurrency exchanges are limited to offering only instant conversion rates for crypto-to-fiat transactions.
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CryptoVisionary
Fri Jul 05 2024
This measure is implemented to ensure compliance with local regulations and protect investors.
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charlotte_anderson_explorer
Fri Jul 05 2024
The virtual currency exchange license does not grant the holder the authority to conduct initial coin offerings (ICO).
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StormGalaxy
Fri Jul 05 2024
ICOs are a separate category of fundraising that requires additional regulatory scrutiny.
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