Thats a welcome development when the government start to recognizes crypto currency and even sponsored seminar about regulation. The regulation is only implies to the operator to the currency changer so that they will be protected againts unscropolous users that would take advantage of being anonymous and decentralized.
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Philippines is a developing country. Good news for the entire bitcoin community, this development proves that bitcoin is really making remarkable role in the innovation and economic development of a country. Such introduction and recognition might ignite a wider coverage and larger market cap for the cryptocurrency community worldwide.