Philippine Stock Exchange Plans To Become A Platform For Cryptocurrency Trading

According to a recent report, the Philippines Stock Exchange is focusing on the pioneer of cryptocurrency trading in the country.

After the SEC and financial regulators give their recommendations, the exchange plans to launch the scheme. The Philippine Stock Exchange appears to be awaiting and preparing the claim.

Subject data / daily Bitcoin trading volume drops to lowest level since 2021

The stock market leadership met about the idea two weeks ago, CEO Ramon Monzon and PSE Chairman told our source Dec. The controversy was based on creating a cryptocurrency exchange in the Philippines.

The two stock exchange managers supported investor protection and appropriate guarantees for trading infrastructure to keep traders running smoothly. According to them, these two factors are very important for cryptocurrency trading.

Growing Interest In The Philippines Calls For A Local Cryptocurrency Exchange
CEO Monzon told our sources that Filipinos are increasingly interested in cryptocurrencies. Therefore, it is no longer ideal to ignore the need for local crypto exchange to meet the needs of crypto investors.

So they’re just waiting for the SEC’s guidelines on how to manage such a change in the country.

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Monzon also announced that the Philippine Securities and Exchange Commission has begun investigating the need to approve crypto exchanges in the country.

The Sec has collected comments from investors, the public and even banks since 2019, according to the CEO. The agency sought to find out its views on creating a cryptocurrency exchange in the country.

The cryptocurrency market is up 1 % after a significant drop from a few days ago | Source:TradingView.com
The Philippines has always supported digital assets. Based on the activities of the Central Bank of the Philippines,

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