Quote from: Jannalsieh on April 12, 2018, 01:27:44 AM

having no law stating that it is "illegal" doesn't make it legal. Regulations and house bills passed from the congress and senate makes it legal. So far for now, in the Philippines, there is no law stating that it is legal or illegal. But the government has an open mind about it and banks participate in transactions with cryptos, especially bitcoin.

Quote from: kingkats0803 on April 12, 2018, 01:37:20 AM

Law legalizing bitcoin, or cryptos in general, in the Philippines is yet to be made. Not heard of news that it is legal, however, it is not illegal to transact bitcoin in the country. An exchange platform is even authorized by bangko sentral ng pilipinas (BSP) to transact bitcoin and deal with banks and remittance centers in the country.
So it is basically an open market for cryptos.

For the sake of argument, if the Central bank of The Philippines allowed a company like coins.ph, rebit.ph and abra to operate in exchanging Bitcoins to Philippine Peso and vice versa, isn't it that its already saying that its legal? They are regulating it already. They issued a new license to accept and hold their clients funds and extend the functionality of its online and offline payment services.