Quote from: kryptqnick on July 18, 2016, 01:45:33 PM

Quote from: groll on July 04, 2016, 04:53:55 AM

With the issue of hackers of amassing huge amount of money and the issues on Money Laundering the Banko Sentral ng Pilipinas (BSP) is looking forward to create a cyber surveillance division whose function is to monitor and implement virtual currency regulations in the country. Having seen the increase of bitcoin users in the country and the huge amount flowing in bitcoin activities, the government has included bitcoin in its watch list. Soon there will be regulations and policy covering bitcoin operations in the Philippines.

Is it good or bad for those people in Philippines who use it?

Good for those who treat bitcoin as currency.

Bad for those using bitcoin as a pure investment, they hate tax without knowing that local exchanges has putting a same tax scenario when it comes to converting bitcoin to fiat.

However, the government here will not focus on providing regulations in using bitcoin for now seeing how government is spending some time in one thing.