{"id":113195,"date":"2017-08-21T06:04:35","date_gmt":"2017-08-21T10:04:35","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=113195"},"modified":"2017-08-21T06:04:35","modified_gmt":"2017-08-21T10:04:35","slug":"bsp-monitoring-crowdfunding-developments","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/08\/21\/bsp-monitoring-crowdfunding-developments\/","title":{"rendered":"BSP monitoring crowdfunding developments"},"content":{"rendered":"<figure id=\"attachment_109791\" aria-describedby=\"caption-attachment-109791\" style=\"width: 225px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/2017-04-26-14-28-09-745141137.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-109791\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/2017-04-26-14-28-09-745141137.jpg\" alt=\"Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said domestic inflation remains benign despite the slight uptick last July to 2.8 percent from the previous month's 2.7 percent (PNA Photo)\" width=\"225\" height=\"225\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/2017-04-26-14-28-09-745141137.jpg 225w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/2017-04-26-14-28-09-745141137-150x150.jpg 150w\" sizes=\"auto, (max-width: 225px) 100vw, 225px\" \/><\/a><figcaption id=\"caption-attachment-109791\" class=\"wp-caption-text\">Bangko Sentral ng Pilipinas (BSP) Logo\u00a0\u00a0(PNA Photo)<\/figcaption><\/figure>\n<p>MANILA\u00a0 &#8211; &#8211; The Bangko Sentral ng Pilipinas (BSP) is coordinating with other regulators overseas to apprise of the intricacies of crowdfunding whose platforms have tended to rise.<\/p>\n<p>\u201cSince the crowdfunding\u00a0industry is still nascent in the Philippines it may be not yet be the time to issue regulations but we continue to monitor the crowdfunding\u00a0industry and we\u2019ll take regulatory action when the time comes when necessary,\u201d BSP Governor Nestor A. Espenilla Jr. told reporters recently.<\/p>\n<p>Espenilla said the situation started for charitable purposes\u00a0 and then later on evolved for credit and investments, but stressed that all these processes\u00a0 pass through proper vetting process.<\/p>\n<p><span class=\"def-number\"><span class=\"oneClick-link\">Crowdfunding refers to activity of raisng money from a large number of people through a website for a project or a small business<\/span><\/span><span class=\"oneClick-link oneClick-available\">.<\/span>\u00a0Its platforms continue to increase since there are also rising number of people who have funds and who want to partner with those who have expertise.<\/p>\n<p>The central bank chief said the central bank was also \u201cconstantly surveying fintech activities of emerging market players.\u201d<\/p>\n<p>Fintech or financial technology is an innovation aimed at helping start-ups meet their possible funding source through the use of technology related to new applications, processes and business models, among others.<\/p>\n<p>Espenilla said the BSP is also monitoring industry developments on crowdfunding and peer-to-peer lending.<\/p>\n<p>\u201cWhile crowdfunding clearly has a potential to expand financial access for new businesses and MSMEs, there\u2019s also heightened risk of investor and consumer abuse,\u201d he said.<\/p>\n<p>The central bank chief said the BSP had shared with the Financial Stability Forum ( FSF), a group composed of finance ministers, central bankers and international financial institutions, its research on crowdfunding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0 &#8211; &#8211; The Bangko Sentral ng Pilipinas (BSP) is coordinating with other regulators overseas to apprise of the intricacies &hellip;<\/p>\n","protected":false},"author":33,"featured_media":109791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1215,21610],"class_list":["post-113195","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bsp","tag-crowdfunding","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/113195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=113195"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/113195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/109791"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=113195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=113195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=113195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}