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'm favor of the regulation as long as the safety is concern of all Crypto currency users which are the investors and the project owners. Most of the Filipinos knows that inflation rate is increasing and alarming as a result of Train law in which the government created it to collect more fund thru taxation therefore if the crypro regulation will be applied on this country then expect earning Bitcoin with tax will be applied too. Hopefully taxation will help to strengthen the economy but if it will only goes to corruption then this regulation will become useless and will just a burden in the future like the other expensive commodities in the market.
This is what most Filipinos mindset as well. Philippines is one of the most corrupt countries globally that's why they don't trust and majority always ask when the tax is going because it seems that the country is moving backward. Anyways, I'm also into crypto regulation because it will bring some form of legitimacy to the market. And I guess its inevitable, crypto friendly nations around the globe will have to implement regulations to gain more wider adoption.