Image Image Image Image Image Image Image Image Image Image Image Image

| April 21, 2019

Scroll to top

Top

union Archives -

Rise in Officer Suicides Leaves Police Union With ‘Great Anger’

April 8, 2019 |

Two more police officers died in France over the weekend in what are thought to be suicides. That would mean that officers are killing themselves this year at the rate of one every four days, France24 reports. No immediate, direct cause for the increase has been identified; law enforcement suicides…
Newser

European Union Agrees to New Copyright Law

February 20, 2019 |

The bill is aimed at reining in tech giants and throwing a lifeline to news publishers. It is expected to be formally approved by mid-April, after which EU governments will have two years to include it in their national laws.
WSJ.com: What’s News Europe

Dem silence during State of the Union speech shows all they care about is opposing Trump

February 10, 2019 |

President Trump’s State of the Union address was deliberately structured to emphasize unity and bipartisanship, yet the obstructionist Democrats refused to acknowledge his best overtures.
FOX News

Union Bank of the Philippines Launching Cryptocurrency ATM

February 9, 2019 |

Union Bank of the Philippines Launching Cryptocurrency ATM

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Unionbank’s ATM

The Philippine Star reported on Wednesday that the Union Bank of the Philippines (Unionbank) machine will be the country’s first crypto ATM that complies with the rules set by the central bank, Bangko Sentral ng Pilipinas (BSP). The project is part of the Philippine government’s regulatory sandbox. The bank says it has been collaborating with the BSP to provide Filipinos with innovative solutions.

Union Bank of the Philippines Launching Cryptocurrency ATM

Unionbank said in a statement, “In the bank’s continued quest to cater to the evolving needs and tastes of customers, including clients who use virtual currency, the ATM will provide these clients an alternative channel to convert their pesos to virtual currency and vice versa,” the publication conveyed. No specific coins were mentioned in the announcement.

A picture of the bank’s upcoming crypto ATM was posted on social media on Jan. 17 by Twitter user Mike Abundo.Union Bank of the Philippines Launching Cryptocurrency ATM

Crypto Regulation in the Philippines

Bangko Sentral ng Pilipinas explained, “Following the warning advisory issued by the BSP in March 2014, a formal regulatory approach was adopted through the issuance of Circular No. 944 dated 6 February 2017.” This circular establishes “guidelines for virtual currency (VC) exchanges” offering “services or engaging in activities that provide facility for the conversion or exchange of fiat currency to VC or vice versa” in the country, the BSP wrote.

Noting that it “does not intend to endorse” any cryptocurrencies including bitcoin, the BSP clarified that it aims to regulate them “when used for delivery of financial services, particularly, for payments and remittances.”

Union Bank of the Philippines Launching Cryptocurrency ATM

According to the circular, crypto exchanges must obtain a certificate of registration to operate as a remittance and transfer company. In addition, “Large value pay-outs of more than P500,000 [~$ 183,000] or its foreign currency equivalent, in any single transaction with customers or counterparties, shall only be made via check payment or direct credit to deposit accounts.”

Furthermore, they must “maintain an internal control system commensurate to the nature, size and complexity of their respective businesses” and adhere to the minimum control standard issued by the BSP, the circular describes.

As of November last year, the central bank has issued provisional licenses to seven crypto exchanges and is evaluating over 40 applications currently, according to a document on its website.

What do you think of Unionbank launching a crypto ATM? Let us know in the comments section below.


Images courtesy of Shutterstock, Twitter, Mike Abundo, and Unionbank.


Need to calculate your bitcoin holdings? Check our tools section.

The post Union Bank of the Philippines Launching Cryptocurrency ATM appeared first on Bitcoin News.

Bitcoin News

Gayle King says Trump’s State of the Union was ‘pretty tame,’ calls immigration remarks ‘disturbing’

February 6, 2019 |

The co-hosts of “CBS This Morning” appeared on “The Late Show” to react to President Donald Trump’s second State of the Union address.
FOX News

Democrats unmoved by Trump’s State of the Union bid to break gridlock on border security

February 6, 2019 |

Democrats signaled on Tuesday that President Trump’s State of the Union address did little to convince them that a legislative compromise to construct his proposed border wall is possible, as another potential partial federal government shutdown over the project looms.
FOX News

Key Lines in Trump’s State of the Union

February 6, 2019 |

President Trump stressed bipartisan unity in his State of the Union address Tuesday night, but he also made a big push for his border wall and his immigration policies. Here is the transcript, via the Washington Post . Some highlights: Investigations: Trump derided “ridiculous partisan investigations,” saying only they and “foolish…
Newser

Trump calls out pro-choice abortion bills during State of the Union

February 6, 2019 |

In his State of the Union address on Tuesday night, President Trump received rapturous applause from Republicans for condemning recent liberal efforts in Virginia and New York to change abortion laws.
FOX News

Kavanaugh among justices attending State of the Union, Ginsburg to miss address

February 6, 2019 |

President Trump’s two selections to the Supreme Court, Associate Justices Brett Kavanaugh and Neil Gorsuch, are expected to join Chief Justice John Roberts and Justice Elena Kagan at Tuesday night’s State of the Union address.
FOX News

May Seeks to Renegotiate Brexit Deal With European Union

January 30, 2019 |

British Prime Minister Theresa May said she would seek to reopen Brexit negotiations with the European Union in a bid to wring concessions as the clock runs down on the U.K.’s exit from the bloc.
WSJ.com: What’s News Europe