Crypto: after Europe, Binance attacks the Philippines

Exchanges in turmoil Not easy to navigate in the sea of cryptocurrencies ! When market rises and the bulls push, the money flows. But as soon as the wind falls and the bears come out of the forest, it is necessary to reject and answer the authorities’ sometimes awkward questions and journalists. This is how life goes on for Coinbase, Binance and others Crypto.com. Raised the mainsail, we are heading directly towards Manila. The archipelago with more than 7000 islands to take news from the globetrotter Changpeng Zhao (CZ).

Binance is seeking to acquire licenses in the Philippines

If you are a regular reader of the newspaper, you know it CZ travel the earth to preach the good word cryptocurrencies. Europe, America, Africa or Asia he travels to all latitudes to discuss, negotiate and invest. Its leitmotif is respect for regulation local. It often involves getting legal licenses in the countries where its Binance platform is established.

Its most recent stopover is at Phillipines. His interlocutor for the day is Banko Sentral ng Pilipinas – the country’s central bank. Negotiation problems? Collection two licenses operational:

  • the virtual asset service provider license (VASP), which lawfully allows one exchange to offer the sale and exchange of cryptocurrencies, but also the conversion of digital currency into Philippine pesos – and the other way around.
  • electronic money issuer license (NDE) which allows the holder to issue, collect and administer currencies, electronically or not. It’s a license that pertains to fairly “classic” financial services.
Binance continues its expansion policy and wants to establish itself in the Philippines

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Captain CZ keeps the course in turmoil

During a press conference held at the time for the apartment in Manila, CZ declared his love for this country “very important to him” and show their ambitions. Literally.

“Binance’s decision to expand its activities in the country is due to local developments in the form of payment services and the fact that the country understands cryptocurrency issues better than others. »

“We will also invest in traditional financial services such as payment systems or banks. And above all, we want to help these companies integrate the blockchain world. »

“Our services will work closely with public services to help develop rules but also provide expertise in the field.”

Some mischievous journalists also asked him for a reaction after the publication of the indictment from the Reuters agency. He said in this regard that the media ” just reported rumors and that he did not provide evidence in support of their statements He also urged the public “do not believe the rumors” and assured the audience that the company was not “not involved in illegal activities Next question?

While Binance continues his journey around the world and tries to forget his problems, Coin base trying in turn to round out the angles of its complicated personnel management. Following the announcements of layoffs, then finally cancellations, the US company’s human resources are trying to minimize the topic with more or less success. that Web3 is not a long calm river. The season off storms does not seem to want to quit right away. But as they say, a calm sea never did any good marine“. We’ll see if in a while who was one.

Binance has now reached a sufficiently critical size to be able to return blow after blow in this kind of clash over bitcoin conquest funds internationally. To register on the stock exchange and form your own opinion, it is this way (linked link).

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