http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/According to this article the Philippines Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states sees the virtual currencys potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.
yes that's true. Central Bank of the Philippines even released their official rules and guidelines for BTC which took them almost a year of delivaration. BSP announced their recognition of VC because basically they already know the potential of BTC in terms of payments, remittances etc..But they do not endorse BTC as the national currency.