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Gino
The Philippine Securities and Exchange Commission revealed that it is creating rules for cryptocurrency
trading in the country.
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The Philippine Securities and Exchange Commission revealed that it is creating rules for cryptocurrency
trading in the country.
With hundreds of Initial Coin Offerings launching every month, the SEC wants to protect Filipino
investors by setting up rules. This new regulation includes the issuance and registration of
cryptocurrencies which is set to finish this year.
“We need to act because initial coin offerings (ICOs) are sprouting especially in 2017. We want to come
up with our own set of regulations. You have to be extra careful how investors in this new space are
protected.” – Emilio Aquino, SEC Commissioner
With virtual currency going mainstream, authorities around the world, especially in Asia are trying to
tighten its grip through regulations.
China has already banned ICOs and local virtual coin exchanges. South Korea is also planning to do the
same with virtual coin exchanges. Although reports are still conflicting whether this is going to push
through or not.
In the Philippines, the SEC has already released an “official advisory” over initial coin offerings. It
interprets ICOs as a form of selling of securities. This means the activity is subject to the Securities
Regulation Code. If it is subject to the SRC, then proper disclosure rules and registration to the SEC must
be observed.
The upcoming rules will include guidelines for cybersecurity of the crypto markets, eligibility of issuers,
the disclosure of officials and technology that will be used, and the financial literacy of investors.
Last year, the Bangko Sentral ng Pilipinas issued memorandum circular no. 944, concerning the exchange
of cryptocurrency to fiat money.
The SEC is yet to approve cryptocurrency sale in public and is investigating unlicensed sellers. Calata-led
KROPS coin/token was struck first when the corporate regulator released a Cease and Desist order,
halting its ICO.
“Unfortunately, there have been a lot of cases where ICO promoters vanish into thin air. We don’t want
that to happen here,” – Emilio Aquino, SEC Commissioner
Overall
SEC wants to rein in the cryptocurrency boom by setting up guidelines to protect the public. While others
criticize this as a way of getting involved in an otherwise decentralize project, we expect more news from
the Philippine government with regards to cryptocurrencies in the future.
Source: ABS-CBN
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Invest in bitcoins (or in any altcoins) only the amount you can afford to lose!
Don’t put all your eggs in one basket. Spread your bitcoin and cryptocurrency investment.
Before investing in any cryptocurrency, check the people behind it, its mission, and other details to
ensure that they are worth investing for. Don’t invest in something you don’t know.
This article is for informational purposes only and does not constitute an investment advice. There is no
substitute for doing your own research.
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The Motley FoolDaniel B. Kline, The Motley FoolSep 25, 2017, 4:32 PM ET
Toys R Us
Reuters
In the 1980s and even the 1990s, Toys R Us was a place children begged their parents to take them.
The chain had a selection of toys that dwarfed what was sold at now-defunct department store chains
like Ames, Caldor, and Bradlees. Even its Sunday newspaper inserts were an event, and its holiday season
"toy book" was much perused by children in order to pick out what gifts they planned to ask for.
Toys R Us' slow path to bankruptcy, which it filed on September 19, did not begin with Amazon.com . It
started with chains like Wal-Martand Target creating toy departments that not only pushed prices (and
margins) lower, but also made it so a visit to Toys R Us was no longer unique. Wal-Mart and Target made
Toys R Us less of a destination and gave parents a way to placate their kids while also doing their own
shopping.
For two years, I ran the largest toy and hobby store in New England. We had a Toys R Us, a Target, and a
Wal-Mart within a couple of miles of us. We were also in a relatively remote location while our toy-
selling rivals were closer to the highway and near a major mall. Despite those deficits and the fact that
we were generally more expensive than the chains we competed with, we thrived.
The mistake Toys R Us has made is that it has done very little to differentiate itself from its department
store rivals. My former toy store, which is doing well to this day, did much more than sell toys, hobby
items, model trains, and more. It actively gave customers a reason to visit.
"Once these initiatives are implemented, Toys R Us stores will be interactive spaces with rooms to use for
parties, live product demonstrations put on by trained employees, and the freedom for employees to
remove product from boxes to let kids play with the latest toys," he said.
That's the model that would have worked all along. It's a game Target and Wal-Mart are unlikely to play,
and one that Amazon, for obvious reasons, can't.
Bankruptcy may clear some debt and let the company shed some leases, but it needs to change in order
not just slowly fall into the same hole. Toys R Us has to go from being a place that sells toys and games to
one that's full of activities, experiences, and discoveries for kids and adults alike. The chain needs to
transform from store to destination and it does that, then sales will follow.
NOW WATCH: How airplanes fly those giant banner ads - it's more dangerous than you think
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International Editions: UK DE AUS IN MY SG PL SE Crushing debt. Toys "R" Us continued to struggle with
debt, a legacy of its 2005 leveraged buyout. It had $444 million in debt coming due in the current fiscal
year, which ends in January, and a massive $2.2 billion in debt maturing in the following fiscal year. "They
were in serial refinancing mode," O'Shea noted. "It seemed every year there was $1 billion that needed
to be redone."
Price-cutting competitors. One of Walmart's holiday strategies is to slash toy prices to lure consumers
into its stores. One study found the retail giant discounted its popular toys by 54 percent on average
compared with Amazon. In its bankruptcy filing, Toys "R" Us noted that Amazon is "not concerned with
making a profit at this juncture, rendering their pricing model impossible to compete with."
Kids just want to be kids -- online. Toys "R" Us' famous 1980s jingle says kids "don't wanna grow up" --
but their tastes in toys do change. Lego, for one, is also feeling the pain, with the Danish building-block
maker witnessing its first sales decline in 13 years, partly due to a shift toward online apps and games.
Nervous vendors wanted cash up front. Speculation that bankruptcy was on the horizon sparked fear
among Toys "R" Us' suppliers. According to the company's bankruptcy filing, almost 40 percent of
international and domestic vendors lost confidence and demanded cash in advance or on delivery. That
would have required an additional $1 billion in liquidity, the company said. NL FR IT JP