House Bill No. 421, or the proposed Strategic Bitcoin Reserve Act, directs the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 Bitcoins annually over a five-year period, totaling 10,000 BTC.
Two lawmakers sounded the alarm over the growing reach of online gambling in the Philippines, as Pagcor revealed during a House budget hearing that 18 to 20 million Filipinos have registered with gambling apps, with 8 to 10 million of them considered active players.
The Bangko Sentral ng Pilipinas (BSP) has ordered mobile payment platforms, including GCash and Maya, to cut access to in-app gaming within 48 hours, amid mounting concerns in the Senate over the social costs of online gambling.
Following a public consultation, the Bangko Sentral ng Pilipinas (BSP) is finalizing rules that will require banks, e-wallet operators, and other financial service providers to strengthen measures against online gambling-related harm.
The newly launched Automated Fare Collection System (AFCS) enables contactless payment options, including Visa and Mastercard debit and credit cards, and QR payments via GCash using NFC-enabled Android smartphones.
This is up from 52.8 percent in 2023, according to the Bangko Sentral ng Pilipinas (BSP) in its "2024 Report on the Status of Digital Payments in the Philippines”.
The Bangko Sentral ng Pilipinas (BSP) said on Thursday, July 3, it will issue a circular meant to protect users of digital platforms from risks associated with online gambling.
The Anti-Financial Account Scamming Act (AFASA), a landmark law that aims to curb financial scams, defines and penalizes social engineering schemes, money muling activities, and related offenses.
