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Philippines Central Bank Grants First Cryptocurrency Exchange Licenses
The central bank of the Philippines has granted licenses to two local bitcoin exchanges, according to local reports.
By Stan Higgins
Updated Sep 13, 2021, 6:50 a.m. Published Aug 21, 2017, 9:00 a.m.
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The central bank of the Philippines has granted licenses to two local bitcoin exchanges, according to reports.
Daily newspaper The Philippine Star reported the developments on Sunday, citing statements from central bank chief Nestor Espenilla Jr.
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The Bangko Sentral ng Pilipinas first released its rules for domestic exchanges in February, seeking to lay down a foundation for the country's nascent cryptocurrency space. Yet the central bank has seen relatively little interest from prospective applicants, according to one official who commented to local media in late July.
That said, Espenilla, who spoke during a financial technology event over the weekend, indicated that the central bank is being proactive about bringing exchanges under its regulatory auspices.
"We see a rapid increase in the trajectory. It is coming from a small base but increasing – that is why we decided to require them to register," he told attendees.
Espenilla also offered some figures on the local bitcoin trade, according to the news source, saying that exchanges are seeing as much as $6 million in volume a month – a figure that represents three times the $2 million per month seen last year.
"We are moving to regulate them," Espenilla emphasized.
Financial district of Manilla image via Shutterstock
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin’s weakness versus gold and equities puts quantum computing fears back in focus
Some investors have revived concerns that quantum computing could threaten bitcoin, but analysts and developers say recent price weakness reflects market structure.
Ano ang dapat malaman:
- Bitcoin’s recent price stagnation has sparked a renewed debate over quantum-computing risks, with investor Nic Carter arguing that quantum fears are already shaping market behavior.
- On-chain analysts and prominent investors counter that the slowdown is better explained by large holders taking profits and increased supply hitting the market around the $100,000 level.
- Most bitcoin developers still view quantum attacks as a distant, manageable threat, noting that proposed upgrades like BIP-360 provide a path to quantum-resistant security and are unlikely to explain short-term price moves.
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