Philippines SEC commissioner asks for crypto stakeholders’ feedback on rules
The Philippines’ market regulator, the Securities and Exchange Commission, seeks the input of crypto and blockchain “stakeholders” to assist government agencies in drafting appropriate rules for the space.
SEC Commissioner Ephyro Luis Amatong spoke at a meeting of the Philippine Association of Digital Commerce and Decentralized Industry, and said:
“The government wants to be proactive in creating rules about cryptocurrency. We want to engage all the stakeholders by asking for your feedback. We don’t want to ban anything just because we don’t understand something. That is why your feedback and your cooperation are important so we can come up with an appropriate rule about cryptocurrency trading.”
Colorado’s politicians could soon accept crypto contributions
The state of Colorado could soon allow political committees to accept contributions in cryptocurrency.
The Office of the Colorado Secretary of State published a new working draft of its “Rules Concerning Campaign and Political Finance” which notably includes a new section on cryptocurrency donations.
The proposed guidance states:
“A committee may accept contributions in cryptocurrency, up to the acceptable limit for a cash or coin contribution. The amount of the contribution is the value of the cryptocurrency at the time of the contribution. The committee must report any gain or loss after the contribution as other income or receipts.”
Russia & Iran agree that cryptocurrencies can be used to avoid SWIFT as well as sanctions
Irans head of economic affairs, Mohammad Reza Purebrakhim, described using digital money as means to escape from the influence of the dollar as a “promising direction.”
This was discussed at a meeting with the head of the Russian Federation Council Committee on Economic Policy Dmitry Mezentsev where both Russia and Iran described crypto as being a replacement of the SWIFT interbank payment system, use of which would also weaken any monetary sanctions imposed on countries, making Russia in cooperation with Iran on these benefits of using crypto.
CoinGate to launch Bitcoin Lightning Network payment processing
Payment processor service CoinGate has begun testing Lightning Network.
CoinGate has designed an example shop which allows you to test Lightning payments in action at https://example.coingate.com/.
The company is hopeful to become the first payment processor to accept LN payments in live conditions.