Bitdexi head revealed plans to obtain a license in the philippines

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Crypto Regulation
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Cryptocurrency exchange BitDexi plans to apply for licenses of virtual asset service provider and electronic money issuer in the Philippines. This was announced by the head of the company at a press conference. In his opinion, the Philippines has created an environment in which "innovation works better".

The head of BitDexi said that he had already met with the authorities to discuss the issue. He also announced that the company will expand its team.

"We're working closely with the authorities - advising them or helping shape regulations by sharing our best practices and providing feedback from an industry perspective," he added.

He did not give a specific timeline for registration in the Philippines. There are too many external factors affecting the process, he said. The head of the company expects to be able to implement the plans within a few months.

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Gustaf Kilander

Gustaf is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.