Connect with us
[crypto-donation-box]

Blockchain

Philippines’ central bank issues new crypto guidelines based on FATF.

Republished by Plato

Published

on

Philippines’ central bank has issued new guidelines for the cryptocurrency industry. They include the need to apply for an operating license, the minimum capital for service providers, and stringent anti-money laundering programs. In its statement, the Bangko Sentral ng Pilipinas (BSP) pledged “to provide an environment that encourages financial innovation while safeguarding the integrity and stability of the financial system.” The central bank also recognized that virtual assets have the potential to revolutionize the delivery of financial services.

Crypto companies in the Philippines will have to obtain a certificate of authority.

To operate as a cryptocurrency money service business, companies in the Philippines will have to obtain a certificate of authority. The virtual asset service providers (VASPs) will also have to comply with all the BSP rules and regulations and have sound corporate governance principles. For digital currency custodians, the minimum capital required will be PHP50 million (US$1.04 million). VASPs without custodial services will be required to have a minimum of PHP10 million (US$207,770) in the capital. Crypto wallet service providers must establish sufficient cybersecurity measures, the BSP guidelines further outlined. 

Crypto firms shall conduct customer due diligence on all their users.

According to the guidelines, the virtual asset service providers shall conduct customer due diligence on all their users. They must also keep user data for any transactions worth PHP50,000 (US$1,000). This will help stamp out money laundering and other illicit uses of digital currencies, the watchdog believes. The Philippines has had a few cases of alleged terrorist financing using digital currencies. As reported earlier, mid last year, Islamic State-linked terror groups used digital currencies to fund terror activities in the Southeast Asian country’s southern regions.

Source: https://coinnounce.com/philippines-central-bank-issues-new-crypto-guidelines-based-on-fatf/

Blockchain

Philippines’ central bank issues new crypto guidelines based on FATF.

Republished by Plato

Published

on

Philippines’ central bank has issued new guidelines for the cryptocurrency industry. They include the need to apply for an operating license, the minimum capital for service providers, and stringent anti-money laundering programs. In its statement, the Bangko Sentral ng Pilipinas (BSP) pledged “to provide an environment that encourages financial innovation while safeguarding the integrity and stability of the financial system.” The central bank also recognized that virtual assets have the potential to revolutionize the delivery of financial services.

Crypto companies in the Philippines will have to obtain a certificate of authority.

To operate as a cryptocurrency money service business, companies in the Philippines will have to obtain a certificate of authority. The virtual asset service providers (VASPs) will also have to comply with all the BSP rules and regulations and have sound corporate governance principles. For digital currency custodians, the minimum capital required will be PHP50 million (US$1.04 million). VASPs without custodial services will be required to have a minimum of PHP10 million (US$207,770) in the capital. Crypto wallet service providers must establish sufficient cybersecurity measures, the BSP guidelines further outlined. 

Crypto firms shall conduct customer due diligence on all their users.

According to the guidelines, the virtual asset service providers shall conduct customer due diligence on all their users. They must also keep user data for any transactions worth PHP50,000 (US$1,000). This will help stamp out money laundering and other illicit uses of digital currencies, the watchdog believes. The Philippines has had a few cases of alleged terrorist financing using digital currencies. As reported earlier, mid last year, Islamic State-linked terror groups used digital currencies to fund terror activities in the Southeast Asian country’s southern regions.

Source: https://coinnounce.com/philippines-central-bank-issues-new-crypto-guidelines-based-on-fatf/

Continue Reading

Blockchain

Unlike Dogecoin, Catecoin Gives a New Meaning to Meme Coins with Real Use case

Republished by Plato

Published

on

In the present-day connected world, memes have become an integral part of our pop culture. While one can’t put a monetary value on the entertainment they provide, its creators can definitely be encouraged and rewarded for their contribution towards a lively internet.

Catecoin, the first decentralized meme-based token is trying to do just by incentivizing content creators as well as consumers. The project is the first of its kind to implement DeFi features in the content space. Fueled by the CATE token, the project offers a platform for user-generated content, quite similar to 9GAG but on a blockchain, along with content farming and staking features.

How does it work?

Using the Catecoin ecosystem is as simple as using any social network platform. Content creators can submit their creations to the Catecoin Meme Platform and once published they will start earning CATE rewards as the community likes or comments on that content. Even platform users who interact with the posts will receive rewards for their comments and likes.

Meanwhile, the posts are evaluated based on the received reactions. Any post with 500 or more likes from the community will become eligible for a transformation into an NFT and get listed on the NFT market. Catecoin refers to this entire process as Content Farming and has set aside 35% of CATE supply for this alone.

Using CATE

CATE is the utility token of the Binance Smart Chain-based Catecoin project. Apart from value exchange, these tokens also control the accessibility of the platform. Users should hold a minimum of 10,000 CATE to interact with any posts on the platform. Similarly, content creators will have to maintain a balance of 100,000 CATE to be able to submit their works to the platform.

While each like or comment will result in both content creators and consumers receiving 0.1 CATE each, the community can also earn additional returns by just holding the tokens. The platform shares one percent of each transaction made on the network with CATE holders, and at the same time burns the same amount to regulate supply.

Once a meme gets converted to NFT and lists on the NFT market, anyone can purchase it and start receiving any rewards the asset may generate in the future.

Get some CATE, it is simple

In just a few simple steps, one can become part of the Catecoin community early on. CATE is listed on PancakeSwap and users can acquire the tokens against BNB payment. Buying CATE will require users to download and set up Trust Wallet and MetaMask accounts and hold some BNB in their wallets. They can then visit PancakeSwap, make payment in BNB to the Catecoin token 0x118f073796821da3e9901061b05c0b36377b877e and receive the tokens in their connected wallet.

What Makes CATE Different?

The flood of meme coins into the crypto market started long ago, and Dogecoin is the prime example. Many of these coins have a virtually unlimited supply and no real use cases. On the other hand, CATE has a definite supply of 100 trillion and a deflationary mechanism that reduces the supply by 0.5%-1% per transaction while providing a real-world use case – encouraging meme creators to monetize their content. The model adopted by Catecoin makes it the most sustainable meme project out there.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/company/unlike-dogecoin-catecoin-gives-a-new-meaning-to-meme-coins-with-real-use-case/

Continue Reading

Blockchain

Developed by Traders for Traders, QoinIQ Platform Opens IEO on ProBit Exchange

Republished by Plato

Published

on

Developed by Traders for Traders, QoinIQ Platform Opens IEO on ProBit Exchange

Advertisement &  & 

QIQ, the utility token for the QoinSuit ecosystem, officially launched IEO May 17, 2021, on ProBit exchange. QoinIQ offers an unmatched trading experience with their QoinSuit application, augmenting trading processes and alleviating user risk.

QoinSuit elevates the typical trading experience with a broad overview of markets, extended conditional order functionality, and decentralized order management.

QoinIQ’s unique value proposition lies with its functionalities that address key market demands starting with an attractive, fully customizable trading layout optimized for multi-screen displays. Traders leveraging the newly developed trading display can operate in numerous cryptocurrencies simultaneously, bolstering data visibility in a field where seconds are money. QoinIQ’s “playground” offers an avenue for new users to acclimate to both QoinSuit’s trading interface and cryptocurrency trading as a whole, at no risk to the user.

QoinIQ will roll out new features on an ongoing basis to meet user wants and industry trends. First in the pipe during the 2nd cycle are “function-specific technical support” additions and “opinion crowdsourcing” capabilities. In addition to these upgrades, QoinIQ will launch numerous chart and display evolutions, enhanced chart trading functionality for technical analysis patterns, and a community forum and “follow top traders” list to build a stronger community.

QoinIQ utility tokens (QIQ) enable users to access QoinSuit and its services based on membership levels determined by total token commitment and lockup period length. Users can receive higher fee discounts if they subscribe to extended subscription periods. QoinIQ employs a conservative asset allocation, with less than 3% of total QIQ given to administrators and 39% invested into development and overhead costs.

Advertisement &  & 

Founded by a team with decades of experience in the financial markets, including cryptocurrency trading and arbitrage, QoinIQ is striving to set a precedent. Their frictionless trading experience and their commitment to adapt their platform and services to changing market conditions paint them in a favourable light for future proliferation.

ABOUT PROBIT EXCHANGE

ProBit Exchange is a Top 20 crypto exchange globally. We have completed over 200 rounds of IEO and have been consistently ranked Top 4 in Korea. ProBit Exchange provides unlimited trading access highlighted by over 1,000 trading pairs.

ABOUT QIQ TOKEN

QIQ is the utility token for the QoinIQ ecosystem and currently serves numerous uses in their QoinSuit trading application. 60% of the total token pool will be sold during the token generating event, while QoinIQ will invest the remaining 40% in future developments. CoinIQ may burn 5% of the free float of tokens depending upon the development track of QoinSuit.
https://www.qoiniq.com/

PROBIT EXCHANGE’S GLOBAL BRAND TRUSTED BY MILLIONS OF USERS 

100,000+ community members

1,000,000+ monthly active users

3,000,000 monthly web visitors

50,000,000 users on partnering aggregators and wallets such as CoinMarketCap

User interface of Multilingual website supporting 41 different languages

Marketing and community support in 8 key languages

Why Get PROB this May?

  1. Instant event access to ProBit Exclusive Manic NFT MAYhem!
  2. Join ProBit Cup with 20,000 USDT in prizes!
  3. Move up to at least VIP 2 and get bonus PROB tokens.
  4. Receive free Netflix subscription in USDT just by moving to VIP 3 or above.
  5. Be eligible for Trading Competitions just by staking PROB.
  6. Get higher IEO bonuses with PROB purchases.
  7. Lower trading fees to 0.03% by paying with PROB.
  8. Stake PROB and earn PROB at a rate of 4% per annum.
  9. Earn 10-30% of trading fees by referring friends to ProBit.
  10. PROB Reserves improve the ProBit Exchange ecosystem and provide maximum value for PROB holders.

ProBit Global: www.probit.com

ProBit Korea: www.probit.kr

ProBit Telegram: https://t.me/ProbitEnglish

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/developed-by-traders-for-traders-qoiniq-platform-opens-ieo-on-probit-exchange/

Continue Reading
Blockchain5 days ago

First Spot: Coinbase’s App Surpassed TikTok, Instagram, and Facebook on iOS in the US

Blockchain5 days ago

dotmoovs Raises $840,000 From Strategic Investors and Partners

Blockchain5 days ago

Raze Network Kicks Off Testnet Phase With UI Community Voting

Blockchain4 days ago

US Investment Bank Cowen to Offer Crypto Custody Services

Blockchain5 days ago

DeFi lending platform Aave reveals “private pool” for institutions

Blockchain5 days ago

When dollars meet the hype: The biggest NFT hits from celebrities

Blockchain5 days ago

PARSIQ Integrated Into Polkadot For Smart Triggers Across the Relay Chain

Blockchain5 days ago

MoneyGram to Enable Users to Buy Bitcoin and Withdraw it From Birck-and-Mortar Locations

Blockchain5 days ago

Griff Green: Doge-loving hippy hacker steals crypto before bad guys can

Blockchain5 days ago

Here are the Top DeFi Tokens With The Largest Price Jumps This Week

Blockchain5 days ago

As Elon Musk’s SpaceX Literally Sends Dogecoin To The Moon, Justin Sun Craves For Tron to Tag Along

Blockchain4 days ago

Buterin Plugs UNI as Next Oracle Token

Blockchain5 days ago

Can Elon Musk’s ‘damage control’ measures help revive Dogecoin’s price?

Blockchain5 days ago

Ethernity Chain Immortalizes Tony Hawk’s Last 540 Skate Trick With NFT

Blockchain5 days ago

Gaming Giant Kinguin Taps Immutable X for NFT Offering

Blockchain5 days ago

ConsenSys-Backed Virtue Poker to be Launched on Superstarter, SuperFarm’s Launchpad

Blockchain4 days ago

Bitwise Launches ‘Crypto Innovators’ ETF

Blockchain4 days ago

Elon Musk Pokes Massive Hole in the Bitcoin Market After Halting Bitcoin Payments at Tesla

Blockchain5 days ago

TimeTicket CEO Masato Kakamu On TimeCOIN Protocol Project

Blockchain5 days ago

BitMEX Executives to Face Trial in March 2022

Trending