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

1 answers

• Nov 24, 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.
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