Grayscale and VanEck filed registrations to list shares of spot Bitcoin exchange-traded funds on NYSE Arca and the Cboe BZX Exchange, respectively.
Frankfurt Stock Exchange includes crypto trading facility in strategy-2026
Deutsche Börse, the largest stock exchange in Germany, says it will accelerate the development of its blockchain-backed D7 digital securities registry and build a trading platform for digital assets.
London Stock Exchange seeks digital assets director
In a LinkedIn job posting the London Stock Exchange Group says it’s seeking a digital assets lead with a “passion” for digital assets, crypto and blockchain.
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First EU spot Bitcoin ETF hits Euronext Amsterdam exchange
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London Stock Exchange may provide clearing services for BTC derivatives starting in Q4
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Tel Aviv Stock Exchange’s crypto trading proposal a ‘closed-loop system’
Israeli crypto users will soon have a new means of regulated crypto trading, but the local ecosystem is not convinced that this is what the crypto industry needs.
Tel Aviv Stock Exchange moves toward offering crypto trading
Israel’s sole public stock exchange wants to allow its clients to trade crypto but is facing regulatory resistance.
Tel Aviv Stock Exchange Plans to Let Customers of Its Nonbank Members Trade Crypto
The operator of Israel’s public equity trading platform has also been working on setting up a blockchain-based digital asset trading platform.
Overstock-funded tZERO Crypto exchange will shut down March 6
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Philippine Stock Exchange Plans To Become A Cryptocurrency Trading Platform
According to a recent report, the stock exchange in the Philippines is targeting to be the forerunner of cryptocurrency trading in the country.
Once the SEC and financial regulators give their go-ahead guidelines, the stock exchange plans to kick-start the plan. It seems that the Philippine Stock Exchange has been waiting for this approval and preparing for it.
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According to what CEO Ramon Monzon and PSE President disclosed to our source, the stock exchange management met two weeks ago about this idea. The discussion leaned towards establishing a cryptocurrency exchange in the Philippines.
The two heads of the stock exchange maintained adequate investor-protection safeguards and trading infrastructure to ensure a seamless experience for traders. According to them, these two factors are very critical to cryptocurrency trading.
Rising Interest In Philippines Necessitates Local Cryptocurrency Exchange
CEO Monzon told our source that the Philippians are becoming more interested in cryptocurrencies. As such, it’s no longer ideal to ignore the need for a local crypto exchange to cater to the need of crypto investors.
That’s why they’re only waiting for the SEC’s guidelines on how to operate such an exchange in the country.
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Monzon also disclosed that the Philippian SEC had started its inquiries into the necessity of approving a crypto exchange in the country.
According to the CEO, SEC has been gathering comments from investors, the public, and even banks since 2019. The agency has been trying to find out their inputs about establishing a cryptocurrency exchange in the country.
The cryptocurrency market is up by 1% after dropping significantly a few days ago | Source:TradingView.com
The Philippines has always been supportive of digital assets. Based on the Philippine Central Bank activities, it is obvious that the country is a crypto-friendly territory.
The Central Bank had already approved many crypto exchanges in the country by issuing them the license to operate.
Also, the citizens haven’t lagged in the cryptocurrency frenzy taking over the financial market. More and more people are demanding digital payments, and up to 10% of the total GDP comes from remittances. This is not surprising as the country has at least 10 million people working overseas.
Also, many people are interested in exploring cryptocurrency investment to alleviate poverty in the country.
The economy is struggling to stay afloat, and many citizens see cryptocurrencies as a way out. Many people now play the “Axie Infinity” mobile games that pay winners in cryptocurrency to make extra income.
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As for crypto trading and its underlying risks, the Stock Exchange CEO believes it’s better to conduct it on a guarded platform.
According to him, cryptocurrencies are volatile, and that’s part of their appeal. However, the Philippine Stock Exchange should take charge of monitoring cryptocurrency trading and transactions.
Featured image from Pixabay, Charts from TradingView.com