^ Yes you are correct. Philippines will become one of the major player in crypto currency space. This is because the government and our central bank (Bangko Sentral ng Pilipinas) supports the crypto curreny and its block - chain technology. You can easily exchange your bitcoin here into fiat by using BSP approved exchanges like coins.ph

https://www.philstar.com/business/2017/08/18/1730418/bsp-approves-registration-2-bitcoin-exchange-operators