Journalism plays an important role in shaping the future of cipher and blockchain space. Our goal is to create a meaningful conversation to deepen the understanding of enthusiasts in the world of digital assets.
At the end of the year, the article emphasizes the most influential story of the top five in 2024 and focuses on the important development of the Philippine cryptocurrency and blockchain sector.
These stories reflect the important moments and issues defined the cryptographic community year.
As you move forward, Bitpinas will provide the latest insights and news, provide information about the following in the Crypto world and prepare. Thank you for participating in this trip with us.
This is the story of Top Bit Pinus, which influenced 2024.
The most impactful bit pinus story of the top 5 in 2024
Binance was banned in the Philippines
Bitpinas continued to follow this story following the issuance of the Philippine Securities and Exchange Commission (SEC) for Binance for unaccepted businesses in December 2024.
And in March of this year, regulatory authorities, which were supported by the National Electric Telecommunications Committee, should block the exchange to the Internet Service Provider with the risks of the Philippine investors and the appropriate license for the platform. I ordered it. advertisement
Bitpinas article after prohibited:
Currently, the Binance app remains accessible, but the website can only reach through VPN. Furthermore, Filipinos could not play MOONBIX, the Binance Telegram game without using VPN.
In April, SEC urged Google and Apple to delete the Binance -related app from the store to violate the Securities Law. By July, the committee remained optimistic about this request, but has not been updated since then.
Thus, due to different opinions on cryptographic regulations, the Philippine encryption community faces a variety of approaches, from stricter prohibition of unregistered replacement to waiting for a new virtual asset service provider to suspend.
Nevertheless, the Philippines has no laws that focus on cipher, but the Finance Secretary Ralph Rect proposes cooperation with the SEC and brigmenting guidelines, and the profits of the cipher during the term. No new taxes are guaranteed.
Recently, the Philippine National Police has called for more powerful regulations after 116 arrests following the joint attack of Manila’s suspected crypto fraud.
These events reflect the struggle with the Crypto regulations in the Philippines. This is because the SEC vinance and recent scams emphasize the need for a clear law to protect investors while balancing innovation.
Maya 1 peser $ USDC
In November last year, Electronic Walette Maya encountered a major pricing problem that was mistakenly sold by a token instead of a normal exchange rate, a fixed currency fixed to the US dollar.
It is reported that the user who noticed the error immediately purchased a large amount of $ USDC, invested 110,000, and achieved a profit of 5.79 million.
However, with the restriction of Maya, they were able to withdraw 50,000 before the account was frozen. Maya not only freezes the affected user’s account, but also loses the balance, including non -crypto funds, quoting the lost amount.
In addition, Maya has requested repayment, and some users have received a notification to return a considerable amount, including the case where the user is required to pay 226,000 without a clear calculation.
Therefore, Maya has requested users to return profits, then faced a wide range of rebounds, whether the platform should be responsible for the gritch, or whether the user acted in non -ethical acts. I divided my opinion.
The news caused the accountability of the platform and the debate on the rights of the user. Because Maya’s request for a user to return profits from the price setting error is concerned about the need for a platform to re -evaluate the risk of the gratch, the risk of a third -party encryption service, and the need for a platform to re -evaluate the policy to maintain the user. Trust to raise.
Coin audit finished financial statements
In late November, Bitpinas published an article on discussions on the financial difficulties facing the local approved Exchange Coins.ph, as revealed in the 2023 audited financial statements (AFS).
Important details:
Cumulative deficit of 2.5 billion ($ 44 million): Coins.ph (BETUR) (BETUR) is a cumulative deficit of 2.5 billion, a decryptic prediction (such as a deficit of XRP, etc.), and a 666.4 million capital. Reported the deficiency. The XRP hack was confirmed: Coins.ph disclosed the XRP deficit of 192 million ($ 3.4 million) from the 2023 hack. If all customers withdraw XRP from Coins.ph on December 31, 2023, it may not be enough for the company XRP Reserve to cover all customer drawer audits. I quote that the central bank did not meet the capitalization requirements. Capital injection: Coins responded to inquiries from bitpinas and stated that it had added additional capital injection, but did not support SEC filing to confirm this.
aftermath:
The audit is related to the financial statement of the company in 2023, but CEO’s Wei Zhou has controlled multiple discussions to defend the company’s current 2024 financial status, but the final finals. The question is
Why is there a deficit in the first place? Why did you not disclose the XRP hack that occurred in 2023 despite multiple requests from multiple outlets?
All of these backgrounds are approaching a specific Bitpinas staff from a particular organization, and they are afraid that Filipinos try Crypto, so they demand outlets to sort out the news reports.
This led to three things:
The official statement by the editor -in -chief Michael Mithros calls for subtle demand for self -censorship. Ron Hose, the founder of Coins.ph, participates in the discussion and calls the case on Coins.ph. Coins.ph has stopped all communication with Bitpinas, excluded from the press release distributed by the company.
The next thing that happened was very public between HOSE and Zhou, and Zhou defends the actions of the company, Hose handles the situation, especially unresolved financial issues and continuing management. It criticizes the concerns of auditors on the company’s abilities. (Please see the whole article)
What happens next: Bitpinas is waiting for a comment on Bangko Sentral NG Pilipinas (BSP) about this issue.
Coins.ph is registered as a virtual asset service provider (Vasp) given by BSP under the name Betur Inc..
Discussion of WFH vs on -site work
Bitpinas is a distributed type of remote work because the Nimbyx Tiktok video seems to be criticizing the setup from the workplace that “makes you stupid every day” after becoming a viral in August. We published an article to explore how to complement the spirit of.
While dealing with issues such as market volatility and remote collaboration, it emphasizes insights from web3 professionals based in the Philippines, which emphasize their advantages (flexibility, global opportunities, cost reductions).
Some of the famous benefits are:
Flexibility: Ability to easily manage personal and specialized tasks. Global opportunities: Access to work around the world, access to teams, unlimited places. Cost reduction: significant reduction in transportation and labor -related costs. Work -life balance strengthening: Personal happiness, homemade meals, rest time. Efficient work environment: It does not commute and leads to improved focus and productivity. Career growth: opportunity to work with multiple projects and companies at the same time. Networking and discovery: Easy access to the global web3 community and opportunity. Energy saving: subsequent important events and more energy for recovery. Adjusted profits: Free to select a project that matches personal value and passion. Simplified wardrobe: The need for formal clothing and the reduction of washing efforts.
In October, Paolo Kalaw, a CEO of Nimbyx, revealed a notorious statement in a keynote speech at FutureProof Tech Summit 2024. He explained that while remote work increases task productivity, it could limit the change in tissue and adaptivity to innovation.
Kalaw emphasizes the importance of developing evolving skills, networking, and AI tools to prosper in remote setup.
In this article, we investigated whether remote work will not only support Web3 experts, but also provide benefits to employees in various industries.
Pisay-Digicert
Pisay-Digicert Initiative, a project aimed at using blockchain technology to enhance student record security and management using blockchain technology.
In September, we discussed Pisai Deget Initiative in an interview with Joel Baotista, Chief of the Philippine Science High School Knowledge Innovation Division.
Bautista has explained how the idea was born from the blockchain training program by the Ministry of Science and Technology, and how the blockchain is used to create a digital and digital student record. He also mentioned the potential application of blockchain in education, such as micro -clatical and transparent voting systems.
The launch of an initiative that was emphasized by the skeptics of the blockchain that has an application beyond cryptocurrency, especially those who are not enough information.
There is a general misunderstanding that blockchain is synonymous with ciphers, but looking at the implementation of the elite public high school can help you understand and introduce it in various fields.
Other blockchain use case news in 2024:
This article is published in BITPINAS: Binance Ban in Blockchain Education: The Most IMPLATEFUL BITPINAS Stories.
What else has happened since Crypto PHILIPPINES?
