The Philippine SEC is ready to embrace the tokenization of real-world assets, with Commissioner Rogelio Quevedo stating that legal and regulatory foundations are in place. The move aims to spur innovation in capital markets and provide safer investment options for Overseas Filipino Workers.
Bitcoin covenants, a concept revived for protocol development, could enable new layer 2 solutions, non-custodial vaults, and efficient payment channels. However, most implementations require a soft fork, a contentious process given the diversification of consensus clients and advocacy for protocol ossification by figures like Michael Saylor. Covenants aim to allow users to impose future spending restrictions on coins, a feature absent in current Bitcoin Script.
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