Binance, the largest cryptocurrency exchange, attended the Philippine Senate hearing to advise on cryptocurrency guidelines and regulations.
Binance at Philippine Senate Hearing to Provide Cryptocurrency Advice
The largest cryptocurrency exchange in the industry, Binance is increasingly working with country governments to provide input on cryptocurrencies.
This time it was the Over to the Philippines: Binance participated in the Senate hearing to advise on cryptocurrency guidelines and regulations.
—Watcher.Guru (@WatcherGuru) August 24, 2022
“Binance participated in a Senate hearing in the Philippines to advise on cryptocurrency policies and guidelines.”
Basically, Binance and FinTech Alliance Philippines were present at the Philippine Senate hearing, along with the Banking, Financial Institutions and Currency Committee preceded by Senator Mark A. Villar, the Security Exchange Commission [SEC]the Bangko Sentral of the Philippines [BSP] and Cagayan Economic Zone Authority [CEZA].
Among the topics of discussion could not miss cryptocurrency and fintechthe Philippine government seems to be working to, on the one hand, formulate laws that do not hinder innovation and, on the other hand, focus on consumer protection which remains its priority.
Binance present in the Philippine Senate as a cryptocurrency adviser
As representatives of Binance, Director APAC Leon Foong and the Managing Director of Binance Philippines Kenneth Stern spoke at the Philippine Senate hearing.
In this regard, Back said:
“We strongly believe that the crypto industry can greatly benefit the Filipino people by addressing the need for financial inclusion through digitalization. 78% of Filipinos are still unbanked, but crypto can help reduce this number, as holders of crypto assets will soon exceed the number of credit card holders in the country.
At present, Binance is not officially licensed to operate as an exchange in the countrybut, despite that, it participates and works with the Philippine SEC to improve this position.
The new partnership with Mastercard
If getting accepted by governments is still not such an easy mission for Binance, financially and commercially, everything seems to be going more smoothly.
As his new partnership with payment giant Mastercard, created to enable purchases at more than 90 million stores.
In fact, the purpose of this The Binance-Mastercard partnership aims to allow holders of cryptocurrencies to use them in all of the more than 90 million stores around the world that accept Mastercard.
The project will start in Argentinawhere national currency inflation is 71% since the Argentine Peso (ARS) has been in free fall for some time now.
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Binance: Crypto Consulting For The Philippines – Tech Tribune France
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