ChainCatcher reported, citing Cointelegraph, that the Philippines is tightening its cryptocurrency regulatory rules and banning privacy coins from being traded on licensed exchanges. The measure places privacy coin trading outside the permitted scope for platforms that hold licenses.
Privacy coins generally refer to crypto assets designed around stronger transaction privacy. The reported rule change shows a more defined compliance boundary for cryptocurrency trading venues in the Philippines. For licensed exchanges, privacy coin trading will no longer be allowed as part of their exchange services.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.