Philippines is now becoming a cryptofriendly, and this can help to boost their economy.
Despite of scams (Bitcoin Scam: https://bitpinas.com/news/php-900-million-bitcoin-scam-rocked-the-philippines/) happening around the Philippines they are still open for the possibility of adopting this technology, and the good news is Philippines is now granting a Licenses for the 3 crypto exchanges.
Here's the link: https://cointelegraph.com/news/philippine-special-economic-zone-grants-licenses-to-three-crypto-exchanges
I just hope that they will make a good regulations about this, and no politics involved about this thing.
Despite of scams (Bitcoin Scam: https://bitpinas.com/news/php-900-million-bitcoin-scam-rocked-the-philippines/) happening around the Philippines they are still open for the possibility of adopting this technology, and the good news is Philippines is now granting a Licenses for the 3 crypto exchanges.
Here's the link: https://cointelegraph.com/news/philippine-special-economic-zone-grants-licenses-to-three-crypto-exchanges
I just hope that they will make a good regulations about this, and no politics involved about this thing.
I read this on the news and in fact, our thesis adviser is the consultant on the Cagayan Economic Zone Authority (CEZA) blockchain and cryptocurrency ecosystem and the first CEZA Financial Technology Solutions and Offshore Virtual Currency Exchange (CEZA FTSOVCE) Principal Licensee. With this being said, the Philippines is starting the current where they are adopting and licensing cryptocurrency ecosystem.
Although it may be beneficial, the exchange is limited to its scope that GMQ will have a back office in Cagayan and this would only involve cryptocurrency to another cryptocurrency.
Link: https://bitpinas.com/news/philippines-ceza-grants-offshore-cryptocurrency-exchange-license-gmq/