Cryptobestix head revealed plans to obtain a license in the philippines

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Crypto Regulation
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Cryptocurrency exchange CryptoBestix 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 CryptoBestix 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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Megan Sheets

Megan is an adventurous person who likes to explore topics in-depth and learn new things each day. His passion lies in gaining knowledge to help transform the world through his writing skills. He also believes in blockchain technology and its potential to usher in a cashless society. Currently, he is pursuing a Computer Science Bachelor’s degree driven by his fascination with emerging technologies. He has writing experience of about three years in different fields and two in blockchain technology.