I just hope that they will make a good regulations about this, and no politics involved about this thing.

And that is one of the main reasons why we say we don't like government interference. Immediately it happens, politics set in and it looks real bad. But one other fact is that we cannot stop the governments regulations and interference, they've already made it their motive to involve themselves.
Anyways kudos to Philippines for such an awesome initiative, hopes it goes on well for everyone