Atleast provide the source for this news since this is not global but rather only for Philippines. You can use this
https://cointelegraph.com/news/union-bank-of-the-philippines-launches-bitcoin-and-ethereum-trading as source so that your reader will have an idea about what you are talking about.
Unionbank is known as the pioneer bank that embrace crypto. They also offers different courses that related to blockchain. This news is long waited by Filipipino consumer that involves to Bitcoin since we can by directly using our UB account.
It's important to mention that only selected retail can use this feature since this is just on a pilot program. It's still a great news and thanks for sharing.
Does this news mean that cryptocurrency is now legal in the Philippines? I am sure that all banks in any country are governed and regulated by a central bank. In the Philippines Central Bank of the Philippines does that job. If a bank is now offering crypto service then it does look like they have got permission from the Central Bank.
This is a piece of good news for the crypto community. It makes life easier for those who are into crypto trading and also those who want to hold Bitcoin and other crypto for long-term gain.
Yes, crypto is legal here as long the services that offers it applies for license which is not that hard to get since regulators here doesn’t much care about crypto. Government here doesn’t care about crypto, not against nor pro so it’s pretty much you can apply for license easily. Law makers has their own personal agenda with their businesses instead of tackling thoroughly all important aspect of our country such as technology development such as Bitcoin.
This is indeed a great news since UB is one of the popular bank here due to it's convenient terms which you can open a bank account easily using your smartphone without any personal appearance in the bank. I'm surprised that this topic was posted here first in global.