Exchanges in turmoil – Not easy to get across the ocean of . to navigate cryptocurrencies † When the market rises and the bulls push, the money flows. But as soon as the wind dies down and the bears come out of the forest, it is necessary to ignore and answer the sometimes difficult questions from the authorities and journalists† Such is the life of Coinbase, Binance and other Crypto.com. Hoist the mainsail, we’re heading straight for it Manila† The archipelago with more than 7000 islands to receive news from the globetrotter Changpeng Zhao (CZ).
Binance wants to acquire licenses in the Philippines
If you are regular newspaper readers, you know that: CZ travels the planet to preach the good word of cryptocurrencies† Europe, America, Africa or Asia, he travels to all latitudes to discuss, negotiate and invest. The common thread is respect for the regulation local. It is often about getting legal licenses in the countries where the Binance platform is located.
The last stop is over Philippines† His interlocutor of the day is the Banko Sentral ng Pilipinas – the country’s central bank. Negotiation problems? Obtaining two licenses operational:
- the virtual asset service provider license (VASP) that legally allows a stock exchange to offer the sale and exchange of cryptocurrencies, but also the conversion of digital currencies in Philippine peso – and vice versa.
- the license to issue electronic money (NDE) that allows the holder to spend, collect and manage currencies – electronic or not† It is a license that concerns rather “classic” financial services.
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Captain CZ keeps course in the turmoil
At a press conference organized at the time in Manila for the occasion, CZ declared his love for this country “very important to him” and show their ambitions. verbatim.
“Binance’s decision to expand its business in the country is due to local developments in payment services and the country’s understanding of cryptocurrency issues better than others. †
“We also want to 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 government agencies to help develop regulations, as well as provide expertise in the field. †
Some mischievous journalists also asked him for a response following the publication of the complaint by Reuters. He said in this regard that the media “ was satisfied with reporting rumors and provided no evidence to support their statements He also urged the public “don’t believe the rumours” and assured the public that the company wasn’t “not involved in illegal activities” “. Next question ?
While Binance continues his journey around the world and tries to forget his problems, Coinbase in turn, tries to finalize the angles of its complex human resources management. After the hiring postponement announcements, and finally terminations, the US company’s human resources attempt to unravel the subject with more or less success. the web3 is not a long calm river. The season of storm doesn’t seem to want to end right away. But as the saying goes, a calm sea never did any good marine† We’ll see who one was in a while.
Binance has now reached a sufficiently critical size to be able to answer blow after blow in this kind of skirmish over bitcoin conquest funds internationally. To register on the exchange and form your own opinion, it’s this way (affiliate link).