I am proud to tell all the members here my country the Philippines is the first to adapt and accept cryptocurrency being regulated by the government. As we all know that Philippines is greatly influenced by USA and that see something that USA has done on the cryptocurrency and quickly embrace cryptocurrency. The idea is to give license for local exchange to operate and in return clients doing crypto and fiat exchange should do one time intensive KYC that inludes linking facebook and collecting I.D even asking for billing address as to get a good cash in and cash out process. THe intensified KYC will determine the amount that you will going to exchange. Aside from that those ICO project should be registered in AMLA a government department concern on money laundering law. So this will cater and regulate possible abusive form in the use of cryptocurrency.
Well, as a Filipino I think that the Philippines has truly grown when it comes to experimenting and trying ideas that other countries might be benefitting from. I do think that with the current growth and action that bitcoin can provide not just to multinational and giant companies but also into the smaller investors and micro economy that it could make a greater impact here as a third world country and may catapult it into some degree of success