Bitcoin Forum

As part of my advocacy to share good news about bitcoin.


A good push from one country in asia in planning to develop bitcoin

http://news.abs-cbn.com/business/01/29/18/philippines-to-develop-rules-on-cryptocurrency-trading

We bitcoin users surely need this, hoping this will jumpstart many country across the world in acceptance of bitcoin. Let us  repost this so everyone can help bitcoin to gain legalities and legitimacy.

It seems that Filippines decided to go ahead. A good push, we will wait for news about other countries.

It is already legal in most countries but most countries have not made any rules about bitcoin.

Yeah the government and the central bank of the Philippines greatly accepts bitcoin and this is a good news to us who need another source of income. Philippines and Japan are the 2 Asian countries that supports cryptocurrency the most. I hope more Filipino people will know about cryptocurrency and try to invest in it. This is a good news indeed for us bitcoin users :)

Let us all spread this great news, this will certainly add trust and attract more bitcoin investors and continue to enjoy growth and stability of bitcoin. Thanks for appreciating this thread. Be an advocate of bitcoin.

Currently, Philippines have 2 trading platforms have approved by the BSP or Central Bank of the Philippines, and these are Coins.ph and Rebittance.

If the government will get in the picture, whats the use of decentralization? Hope the review of the SEC would be a WIN-Win situation to all Filipino traders.

After all the bad news from China, Korea and Indonesia, I am quite surprise with this moves of Philippines.
Nevertheless, good to hear this news. I hope other countries will follow suit soon.

Many Filipinos are getting involved now in cryptocurrency and this move by their government is much expected from them. Many folks are also getting scammed due to this mass adaption of the public community and regulating the trades of these cryptocurrencies are much needed to combat these problems. My only take in this is that, hopefully, the laws and regulation that they will submit will "truly" benefit the cryptocommunity and not the politicians who are looking to take advantage of this.  8)

Do not get too excited about this, it says it will regulate ICOs in which it can lead to banning of ICO or giving KYC as a requirement. I will monitor the development of this because I am very much affected in whatever direction this will take.

What country is that ??..
  which applies bitcoin transactions legally .. but currently bitcoin in some countries in asia is still hidden but this is hidden not legal but the problem is not much know and if already know but still not many understood. this bitcoin in asia is not learned in school just this sometimes only information from friends to the park. if all countries legalize this bitcoin it's much better.
  because it can help society in terms of income. but this is also very limited because not all corners of this country is reached by the internet network ..

In this light, Japan has become the first country to regulate the exchange of crypto-currencies at the national level, part of the government's efforts to use financial technologies as a means of stimulating the economy.
Japan's provisions help prevent misuse of bitcoins and other crypto-conversions for illegal activities and require banks and other companies to verify identity, store reports and report suspicious transactions.
The government of the Philippines will soon decide on how to treat Bitkoyn, we will wait for good news from other countries.

I think if there is one of the countries in asia that legalize bitcoin as a transactional tool I think in other Asian countries start to learn about bitcoin and I also think in europe country and i hope not only in one of Asian country that can legalize it but also worldwide can legalize bitcoin ;)

Good news for my countrymen! Nearly every day the newspaper has a bitcoins. So it's no wonder that in the coming years it will be legalized as payment money at different stores. I am glad because our country supports the crypto currency and they do everything we can to safely use it.

I just hope that developing bitcoin and other cryptocurrency would positively help Filipino people to benefit its worth and these seems to be a great news for bitcoiners that can be protected by fraud,scammers,theifts and any other illegal activities..this is a great help also for Filipinos to have confidence to make bitcoin or other cryptocurrencies as another source of income that doesn't need to be far from their loveones hoping to give their families a brighter future because in cryptoworld we can change our life for the better if we strive hard and take advantage on the goodness that bitcoin that has brought to us.

The Philippines government accepted Bitcoin that is something good to hear. After USA, Japan and Australia I guess it is Philipines who have accepted bitcoin as a legal method of payment for commodities in the local market. Hope many more countries come forward to legalizing bitcoin that would actually be good for bitcoin.

What is the point to this ? I see many people here waving and clapping this act. This act means that KYC will be soon a requirement to all people using bitcoin and other cryptos. This way the government or the exchange will know exactly how many bitcoin or other cryptos someone have. When decentralization fails it is not a good thing anymore, bitcoin was created with decentralization in mind. If these people from the Philippines are afraid of getting scammed and wants the government support they should educate themselves more in detail what bitcoin and cryptos are.

I would be very sad if my country did this. I am glad that I live in a country where there are no ban/regulations for bitcoin and all the responsibility is on me as a bitcoin user to not get hacked or scammed. That is what bitcoin is to be your own bank and not letting central bank to regulate transactions.

it will be very beneficial for those of us who have known bitcoin earlier than those who just joined .. if the legality of bitcoin begins to burst from one country to another it can allow us to get a job to do bitcoin development.

These are great news :) I expecting to see more Bitcoin adoption during in the near future. We need this and they can't ignore us anymore.
Thank you for sharing this great news with us.

Philippine government is very friendly to bitcoin and crypto. As stated they have local trading exchanges coins.ph who have been in the forefront ever since bitcoin exploded in the country 2017.

However, Philippine market is still very small. Only a small percentage know about bitcoin and most of them are in this community. Asia has been in the forefront on crypto and I hope that more countries in Asia will see the benefit of crypto and bitcoin for all their citizens. Indonesia and Bangladesh ban bitcoin recently, and hearing that another country is on the other side of the spectrum is very welcoming indeed.

Its a good news to all Filipinos that their government regulate or accepted bitcoin, its shows only the government give importance to bitcoin, and they see that bitcoin is a great help to the people and for the country. So that they have a chance to invest and earn in bitcoin. Even if they have a small country or Asian country they they could support btc on their country with no doubt. Hoping that other countries also accepts or legalized bitcoin.

In many countries, they do not refer to bitcoin in any way, because there are no relevant documents. In many countries these documents are already being developed, in others they strictly prohibit the use of bitcoin, it seems to me that the society will still come to a common opinion, but later.

It's been years that central bank of the Philippines said that bitcoint can be use. With them planning to regulate it, I do hope that taxes and fees are fair to maintain bitcoin's main purpose ( cheaper and faster transactions ).

Filipinos are great adaptors. When they here new tech, for sure they will be all equipped. Small market is not a problem.

But I think crime rate will increase again. Currently, there are so many cases of scam here. And I don't doubt that bitcoin can be a tool for evil once bitcoin bacome more popular.

The Philippines has one of Asia’s most complete Bitcoin platforms which enables users to settle any money-related bills, payments, and transfers with Bitcoin.Bitcoin platforms, including Coins.ph, BuyBitcoin.ph and Rebit.ph, are popular in the Philippines.

This is definitely good news for bitcoin investors because it shows that countries really accept bitcoin, which is the only way for bitcoin to move towards greater growth.

Japan is really giving Cryptos a good push..

if any government will start to meddle with bitcoin having it centralized in nature would not be easy for now, as bitcoin being volatile in nature, even government cannot fix it, as in no one. volatility is dictated by demand and supply, i think the only thing that the government can do is to make a law or guidelines in trading or educate people to be aware of scams , limit or regulate merchants and physical store in accepting bitcoin, i think that is what they meant when they said they will develop bitcoin transactions legally, no country can reverse decentralization of bitcoin. no one can make it illegal nor they can legalized it. only the transactions, for the protection of bitcoin users and holders and not bitcoin as a whole.

That's a good news for the people in the Philippines because their government sees Bitcoin as a beneficial investment. They are providing their people with options in investment. They see Bitcoin as a good way of helping people to earn better and earn more. Actually, they also have this called "coins.ph" where it accepts bitcoin and you can encash it directly to banks and other money agencies.

Other countries are also researching bitcoin, and they have no control over bitcoin, and they will not emulate bitcoin until thoroughly studied, and will only use bitcoin as a threat.

This is good news. But hey, we're still behind. I consider us late bloomers. Hopefully our government won't do stupid things with regards to crypto.

I agree with that but the Philippines can't even start a crypto exchange such as Binance. Fees are like hell. Spread is too big. There are big monopolies and this practice is not good.

Now there is news that India is planning to ban bitcoin.

 but do you care? I personally do not care. I do not live there and earn on bitcoins with pleasure

Currently, a well known trading platform in the Philippines is doing a beta testing of its trading exchanges,

https://coins.ph/blog/cx-first-digital-currency-exchange-philippines/

This will be a first as we all know that there are a lot of Filipinos who's into bitcoin and trading.


We all care because bitcoin is global. One country being friendly to crypto will bring positive news to the ecosystem. I don't know where you hate is coming from. But that's one attitude I will advise you to change mate.

I agree, to all holders of bitcoins really need some good news. Let's create a positive news background about bitcoin, As do the big players in this market

 :( The market is very boring in a depressive, volatility is falling every day.
There was a situation where only bears waiting for a miracle remained on the market.
The bears create a situation of hindering people's interest in investing and being afraid of trading crypto-currencies as a fire.

Big traders should arouse the interest of ordinary people. This will give an influx of new money into bitcoin and other coins

an example of country is philippines because in my opinion many people live in philippines that are using thiscrypto especially me im a filipino too so thats why i know its legal in philippines

Hello. I work on investment projects. I advise everyone to join, because projects are time-tested

that was nicely to hear that
there is still many asian country didn't accepted bitcoin
hope Philippine can be a good example for any asian country, the exact place in the south east asian region

It is nice to hear good news from a country in Asia because I think it's not so popular there. So if there are many countries that accept bitcoin as a legal currency, I think there will be more countries in Asia would do the same thing.

Great news. Expect more in the future other countries follow the steps taken Philippine Government and hoped all countries can be legalized and the legitimacy of the bitcoin in his country

The Asian Countries have shown a good attitude towards BTC of late with Philippines taking a lead role in legalizing BTC, its good to hear that legal transactions is being developed by another, this is the kind of good news we need to continue developing BTC

Asians are always the front runners and leaders when it comes to adapting to new and better tech so I am not surprised by this. Asians know the importance of cryptocurrencies.

         Japan and korea had already a concrete policy and regulation about bitcoin and altcoin, now it's the philippines starting to build up their own policy and regulation of these, so it's a great move for the 3rd world country to accept btc, these will help to grow up their economy, and to reduce unemployment rate of the country.

That's a great news that Philippines accepts bitcoin. It shows only that these country are believe and they know that theres a good benefits that they get in bitcoin. These is a big help because most investors are in Asia country.  We hoping that it will last forever that they don't ban btc.

Indeed, a great news that Philippines is aiming to legalize the transaction of crypto currency. Just like in Japan, introduces and legalize the cryptocurrency there. It will boost more the economy’s profit and the innovation of technolgy and ideas of filipinos will be enhance by implementing this type of digital currency. It is better for the government to recognize crypto currencies and make rules than to ban them because it will lessen the poverty and unemployment rate.

Asian countries actually see the potential of blockchain technology in their financial terms. As recently japan made an announcement that people can use crypto for exchanging the goods and service inside the country. Similarly Korea already regulate crypto currency. Now trend is going in whole Asia lets see what will happen .

Actually asia is kind of a pioneer regarding accepting crypto currencies.
Asian countries were the first who set up regulations regarding cryptos.

Asia, btw is not only a pioneer regarding cryptos, but any other innovative technology.
The adoption/acceptance of cryptos start in asia, but will definetly take over onto other continents.

Cryptos are a completely new asset class. It has to prove itself. This is a long process. This is not done within a few years.

The Philippines has a weak economy compared with other East Asian countries so this is a good move for them. It will attract new crypto startups and perhaps even big names who are currently look at Switzerland and Malta as a base for operations. Other countries in Asia should follow or get left behind.

Not all countries have shown same behavior. For instance, consider the case of India, where there are still no laws regarding bitcoins.

1) There is lot of confusion regarding bitcoins in India. The PM of Indian has tweeted in favor of blockchain technology but the biggest financial institution of the country, RBI has warned Indian citizens from investing in bitcoins.

2) They have said that they will come with laws about bitcoin by December. It means they need more than 6 months to make laws about crypto which is laughable.

A pretty good news for a lots of forum users :p BTC become legalized with rules in Phillipines is a great initiative. But its not like any country will follow this regime any time soon.i have seen that different countries have different legal opinion about it. moreover developing legalities about it is not at all easy. How do you plan to implement any scrutiny over the transactions that will.happen with a private key wallet. So i think there will still be just some partial rules about it limited only to exchanges.

Regulation may be made in different countries according to the country's need for bitcoin as long as the regulation is made to benefit both parties, investors, traders, users, and governments. The thing we should worry about is if bitcoin is legalized in the country and becomes the currency of the country, it will create jealousy from other countries and exacerbate the development of bitcoin in the future.

This is a crucial point, the main positive thing in accepting bitcoin is that you can give the people new opportunity to start business ventures and build their own empire and they are helping the economy and the development of the country and it is good to see that they are accepting the new technology with open hands and i am sure more countries will be accepting it this year.

One by one, time by time and all bench of world government factoryes will legalize Bitcoin transaction and BTC make a part of people lifestyle

Yeah of course they know the real benefits of bitcoin but the truth is that more than one country is now accepting bitcoin as legal payout, as you have shared about Philippines I would like to share about the Japan and the south Korea which has established bitcoin system, bow bitcoin is being use as legal currency over there, people are buying every kind of good with bitcoin payment, I think soon we will see bitcoin getting legal in my place as well.

Requiring all countries to legalize bitcoin seems quite difficult. But what the philippines do is brave enough, the country at least dare to try bitcoin officially, if for example philipina step is good and successful then this will surely be imitated by other countries.

yes we has a good news but that can't make bitcoin price to increase, I think we need more countries to accept and no more country banned bitcoin, so bitcoin price will increase because most people expect bitcoin will reach more than 20k.

For some reason it seems to me that this push will be well received in Korea. South Korea. There are a lot of good companies doing and pushing. Samsung, Hyundai, Kia, already world brands, someone can do something and come up with a crypto currency for them.

I would not be surprised if crypto exchanges start to move their offices to the Philippines to take advantage of their bitcoin friendly laws. Could be a nice place to settle down if anyone has a huge stash of coins and doesn't want lose half of them to the taxman

Well,this is a very great news for all of us here in the philippines,atlast, they are already accepts bitcoin legally.I hope all countries will also legalize bitcoin.

Being a Filipino I like to think that we as a country are actively exploring ways on how to explore or expand the horizon on how we can progress as a nation. This is welcome news as this is exactly why we really would need bitcoin as it can give us the option of incorporating it into our economical and financial strategies that way we can have more options on how to integrate it into our work and into the corporations. That being said this is welcome news indeed

The Philippines, though, has little impact on the cryptocurrency market.
But that is still a good sign for the market.

Philippines  and and Japan this two country develop bitcoin transaction  legally,hoping more country in Asia develop bitcoin.

But there was one setback because it looks like lately when a couple in the Philippines was arrested for running a HYIP and scams a lot of investors:

http://newsinfo.inquirer.net/981374/news-bitcoin-cryptocurrency-ronald-dela-rosa-cidg-investment-scam

And then Central Bank of the Philippines gave the people a fair warning,

https://www.coindesk.com/crypto-fraudsters-face-jail-time-warns-philippines-securities-regulator/

I'm pretty sure that the latest scam will be a big factor on whether the Philippines will legalizes bitcoin or put a heavier regulations because one Senator is already calling for it, https://cointelegraph.com/news/philippines-senator-proposes-stricter-penalties-for-crimes-involving-crypto. Let's see how it pans out, Philippines is one crypto friendly nation and I hope that they will continue to do so.

Currently Asian countries have shown good fangs or attitudes towards BTC recently with the Philippines taking a leading role in validating good BTC to hear that public transactions are being developed by others, this is the good news we need to continue developing Bitcoin. 8)

This forum has a large number of posters from the Philippines so i guess there is a lot of interest over there. Luckily it is going to be legal to do business with bitcoin over there making all of us jealous :-[ I'm sure in the future even regulated countries will become more bitcoin friendly, lets see what Philippines is like with their new crypto friendly rules.

I don't really believe the news of any Asia country trying to develop bitcoin their can only develop an altcoin but not bitcoin since bitcoin is highly decentralized and can not be influence by any country or government not up to the point of developing bitcoin. In at that this will be a good news to the cryptocurrency world which will built the confidence of the people toward to acceptance of bitcoin.

Interesting view mate. But as far as I know, Japan and South Korea is in Asia as well and bitcoin has been thriving in both countries. The development that are discussed here is regulations, meaning how each government not only in Asia handles crypto currency. Philippines might not be a big country, but its obviously they are very active in crypto sphere. And  government support will be a huge factor and I'm glad that so far it's very friendly to bitcoin.

There might be setback as stated above, but I hope that it will not have a big influence for the current administration to make a sudden U-turn or make statements against crypto like India and Pakistan did lately.

I know that many people from the Philippines is known for many bitcoin users and gradually bitcoin has become an opportunity for them to be able to make profit from being involved with it. Mostly, were doing signature campaign and others were in trading where I observed that they really are gaining real money with bitcoin. Moreover, I think that legalizing bitcoin transactions in the Philippines is a great achievement for the Filipino bitcoin users.

I think the only country that legallize bitcoin is japan. But other country in asia are now reviewing blockchain just like with our country philippines. Hope they accept bitcoin

Of course, the government of the Philippines and the central bank are already starting to accept bitcoins and encourages people to use. This is good news for all traders and investors. Because their income will increase. Japan and Philippines are the two developed countries of Asia and they prefer Bitcoin more prominently.
They are trying to know more about Bitcoin and to invest. Seeing their work, other countries will increase interest in Bitcoin. As a result, Bitcoin will be stronger, better and prices will increase.

yes of course its a very good news and i,m sure that in coming time more countries around the world they will make it also legal.

it's good news for us. philippine seriously making protection for bitcoin and its great act, big step for philippine, not only give legalization but also develop rules on cryptocurrency trading. I hope with this step will give a good impact for market in the future.

Yes this indeed is a good news for the crpto currency users and we the members of the bitcoin community always hope that more and more countries start accepting bitcoin. but the process is not overnight and moreover most of the countries are not really ready to do do, the way Philippines and Japan have welcomed bitcoin and accepted it. The thing is governments of all the countries are finding it difficult to control bitcoin, so they do not want to declare it as legal in their countries. These countries find it hard to regulate bitcoin because it is decentralized. But this step Philippines is great and hopefully every country follows its footsteps.

Being one of the Filipino bitcoiners, this is one of the greatest news for us. Even if the Philippines has small market for now, it is still a good sign for us because many countries are already starting to accept bitcoin. The Philippines' steps on regulating rules to give protection for the traders and investors, is a really big help for us. I hope more and more Filipinos will join and be open-minded for bitcoin.

For us filipinos, we proudly support legalization of bitcoin in the Philippines, bitcoin help filipino's a lot regardless the status of life, i wish Philippines and Japan make cryptocurrency legal and of course we have to follow the rules set by respective parties.

It is my country, Philippines has embrace the acceptance of bitcoin. However for me I think that whenever they will make this legally they will make a law to act on it and that is not what I like.

Philippines government accept block chain technology

I think Japan is capable of developing ICO projects quite well. Because the government accepts bitcoin, it is good science and technology to develop this market.

The Philippines have taken a great initiative and it's going to take the world of crypto to another revolutionary movement as the awareness creation increases each time. I think the crypto whales must give the Philippines the maximum support needed towards the realization of a bigger and  better flow of their crypto market as it is small now.

It's​ good to hear that our country (Philippines) have an open mind when it comes to crypto currency, it will.make our economy way much better. I hope that it will be implemented smoothly.

Philippines is belongs to 3rd world country and starting to build a regulations about cryptocurrency, well this is a good move for the poor country that adapt cryptocurrency like bitcoin because this will help to the economy to grow up.

This is great news . Asian countries tend to have very  different views regarding the legalization of crypto currency in their country .
At one place where Asian countries like India , China , Srilanka and Bangladesh has banned the crypto currencies , Philippines is making an initiative in legalizing it .
I recently heard about some scam in Philippines related to crypto , but it is good to know that the government is only making some rules not banning it . I hope the alterations in the rules does not lead to some major effect on the functioning of ICOs in their country.                                                 

Yeah it is very good news for the Philippines legalizing the use of bitcoin. The only problem I'm seeing is that some Filipinos make used of bitcoin to make scam others. And some media reporting that bitcoin is a scam without knowing that what make it looks scam because of some people that making use of bitcoin to have a investment scam.

This is just the beginning of great news like this in the crypto sphere,  we are going to here news of how many other countries joined in legalizating bitcoin and other crypto currencies as a means of transactions in there country.  They have tried to take us down and found out that we are a strong community that can never go down.  As they say,  if you can't beat them,  you join them. Lol

It is a great step for us. There are also Bitcoin ATM in a specific city in the Philippines that allows change cash and bitcoins. It is good to see that this is making progress in our country that are actually helpful in so many ways.

In Singapore Bitcoin is legal even banks encourage investing in bitcoin they is so much social acceptance for bitcoin in Singapore even most innovative blockchain projects come from Singapore

The government of the Philippines have already accepted two bitcoin exchanges in the Philippines and allow it to operate since those two exchanges are in compliance with the KYC and AML regulations as prescribed by the Law. But even though this is the case there are still victims of scams and ponzi schemes all over the country but because of this regulations the culprit have been easily caught by the authority.

Japan has long been supportive of bitcoin. If you don't have cash in Japan, its totally okay. You can go to the store and buy using your bitcoins. You can pay your hotels and even your flights with bitcoins. You need cash? There are bitcoin atm scattered all over the country. Japan is the most bitcoin friendly country in the world. I am not quuite sure about the government of the philippines if they are incorporating bitcoins in their country. But surely, if they do, it would be more convenient for people. This is a good start of a good era for bitcoin in asia. I hope most countries in the world will accept bitcoin and make it legal.

this is great news for all digital currency users around the world. the Philippines will be an example for other countries, who dare to make rules to legalize and apply digital currency in the country. so it will make the growth of digital currency faster. and will have a good effect on the economy of the Philippines

There is already a locally and first ever exchange developed and created in the philippines. It is called CLX exchange in which you can buy and sell digital currency with very low fees. It is partnered with coins.ph, a wallet where you can store bitcoin, ethereum and peso.

Korea is a country that accepts BTC and other altcoin payments in trade and exchange. I know that Asia is the lesser-accepted region of altcoin. But in the future, Asia will accept them more widely.

japan has been famous for adopting bitcoin, bitcoin development in Japan is very good, as you say you can spend bitcoin freely in Japan, if the Philippines can legalize bitcoin in their country may be better, as you say, there will be many benefits that can obtained from legalizing bitcoin, even for tourists visiting the country it will be easier for them to make some transactions without swapping their currency and only need to use bitcoin instead, if it happens it will be the main attraction

If that is true that an asian country to develop bitcoin transactions legally then that is good news about bitcoin because it will boast the stableness of bitcoin and there many people around the world would be more trusting bitcoin especially that it is already starting to be legalized its transactions and activities.

This is moral booster for Bitcoin and Blockchain technology. Philippines has the population  and the market to help push bitcoin. If the government will successfully implement the adoption of bitcoin it will further push other countries within the region to follow. A good one.

In Asian countries has shown a good attitude towards bitcoin lately in the Philippines. They have taken a leading role in validating good bitcoin to hear that legal transactions are being developed by others. The kind of good news we can need to continue to develop bitcoin. 8)

this is great news for all digital currency users around the world. the Philippines will be an example for other countries, who dare to make rules to legalize and apply digital currency in the country. so it will make the growth of digital currency faster. and will have a good effect on the economy of the Philippines

This is a good news.

Japan became the first country legalizing bitcoin as a payment method last year, and actually Japanese is the most used fiat currency for cryptocurrency trading. South Korea also seems to working to legalise some part of blockchain innovations (probably ICOs could be the first step). I'm hoping more and more countries accept bitcoin as a legitimate payment method.

I think the only country that legallize bitcoin is japan. But other country in asia are now reviewing blockchain just like with our country philippines. Hope they accept bitcoin

hope this good news could be heard by other country which still close minded with cryptocurrecies . since one of the reason the government wouldn't make it as a legal transaction cause they couldn't control of it, and they couldn't take taxes from it

Philippines have been using bitcoin a lot since it was introduced here. The bitcoin reputation here is already developing and is reaching a lot of people. But the recent news about bitcoin scam could also affect its development since many are still exploring about bitcoin and might cause them to be afraid in investing. Millions were scammed in that recent news. But still Im very happy that our country has opened up to different cryptocurrencies.

Very good move from a develop country in souht east asia.
I hope my country (Indonesia) will the track of philippines and start developin rules and regulations about crypto in Indonesia, right noww bitcoin is still banned in Indonesia due to many criminals use bitcoins fro transaction.

Philippines is doing great by accepting and developing bitcoin in the country, by doing this there is a high possibility of reducing the poverty. Philippine government must support cryptocurrency for its people.

Bitcoin is been used in the remittance business in the philippines and its been approved by the central bank. Some crypto exchanges were also given permit to operate by the government and many filipinos are increasingly involved in cryptocurrencies. There is a possibility that bitcoin might be legalized by the Philippine government in the future but it might be followed by the implementation of regulation because some monetary officials believe it needed to protect the public from any scams that uses cryptocurrencies. 

Asian countries like South Korea and japan has legalised bitcoin and legalised bitcoin transactions in their respective countries. These are the countries who has well understood the potential of bitcoin and has understood that the introduction of bitcoin in their nation can boost the development of their countries moreover I also heard the news that one large car selling dealers in South Korea has accepted bitcoins in exchange of car . Florida is the city of America who has accepted bitcoin for the tax payment and these countries has even experienced the growth of their country after introducing bitcoin.

I was surprised to hear news from this philippine, a small country that wants to move forward and move on. I appreciate this philippine step to develop bitcoin in the country legally. I hope bitcoin can be legal in the country where I live.

Hope this good idea will spread to the south asia also, without make any barrier to the good market!
btw cheers to the Philippians  :)

It is great that Philippines and Japan - two Asian countries have accepted bitcoin and legal transactions of bitcoin in the country. I hope that other Asian's countries will accept bitcoin.

As I can see very clearly that one by bitcoin me every country is legalising bitcoin. As by each passing day, months and years the sustainability of bitcoin has been proven to all its haters. Bitcoin has proved itself that it is not merely a currency, rather it is a revolution which is going to come in the coming years in the future of economy. Those countries who are getting the potential of bitcoin and get that legalising of bitcoin in their nation could boost the development of the country are legalising it and more and more countries are now into the bitcoin.

There are a lots of reported countries in asia which is agree with the legalization of bitcoin....  Especially in Philippines.... The government legalize it because they know that there are a lots of uses of bitcoin in developing the status of their country....  There are a lots of Filipino who are now a crypto user and probably one who recognizes the importance of bitcoin and other crypto....  It is a good starting point in promoting bitcoin all over the world....  Beyond of a lots of reported scam related to it.... Filipinos are very optimistic and so on the government....

Good progress for the philippines and i hope for south east asia region will follow the trail of philippines including indonesia and malaysia.

yes, hopefully this is the beginning of the development of bitcoin in asia. I really hope bitcoin is rapidly growing in Asia and extending to the whole world. I also hope that countries in Asia can accept bitcoin as a legal means of payment. I'm sure bitcoin will be more expensive if countries start using bitcoin for technological developments.

Wow! thank you for this information. Newbie from PH.

Guys, hello evbdy ! dont want to make new topic , so if anybody knows pls tell me here  - what is the best asian countries for crypto ? i am planning to travel over asia - does Thailand good for crypto or no ?

Yes, they have been very positive towards cryptocurrency. Philippines government will also allow 10 Blockchain and cryptocurrency companies to operate in the Cagayan Economic Zone. The companies will reportedly be the first Blockchain and crypto-related firms to legally operate in the Philippines after the Cagayan Economic Zone Authority (CEZA) established a fintech hub with the goal of creating an Asian “Silicon Valley”. CEZA is a state-owned corporation that manages the Cagayan Special Economic Zone and Freeport.

Also, South Korea has retraced its initial stands on the nonacceptance of Bitcoin. More countries not only Asian countries will join the Bitcoin and cryptocurrency train in no time. I wouldn't be surprise to see Philippines coming up with their own cryptocurrency which will lead them to a more cashless society.

 It will spread out in the local news like CNN, and more countries will follow. The only thing that might prove difficult for this is the decision made by the government in Bitcoin

if only one country legalizes bitcoin and receives bitcoin as a payment it may be a trigger for some other countries to follow in the footsteps of the country, so that all countries can accept bitcoin and legalize bitcoin.

is this true that philiphine will developt he bitcoin transaction legally? if yes i think phipiline is the one of south east asian country that make bitcoin legal in their country, and i hope if this happen other country like singapore thailand will follow them

It is acceptable, but countries have too many strict rules to it

Philippines takes a leading role in validating good BTC to hear that public transactions are being developed by others, this is the good news we need to continue developing Bitcoin and currently Asian countries have shown good fangs or attitudes toward bitcoin

This is good news, this is a big step for third world countries to receive btc, the Philippine Government has received two bitcoin exchanges in the Philippines and allows it to operate as both markets comply with KYC and AML regulations as determined by the Act. It will help to grow their economy.

However, let's just hope that the government of the Philippines or some officials will not plot on manipulating or using Bitcoin as a medium to their bad deeds because it may greatly affect the face of Bitcoin.

hopefully the bad thing does not happen in bitcoin. if that happens will have a major impact on the development of bitcoin values ​​in the market. the use of bitcoin in a country is still very vulnerable to corruption cases of some officials. the role of the government must really guard the development of bitcoin in the country.

Phillipines is the one country who legally develop bitcoin and other cryptocurrency,hoping more Asian country follow the Philippines in developing bitcoin so that they help more people in there country.

Well, I am very happy if more countries are receiving bitcoin by proving it gives legal status to bitcoin. It is a worthy bitcoin advancement. Especially, awards for countries that provide legal status to bitcoin. I am convinced that the country must have studied more deeply about crypto currency and prepared all the possibilities that would occur if the crypto currency would be misused. I also believe that the country is ready with a control system that will run to monitor this crypto currency.

I totally agree with the country that legalizes bitcoin as a currency and as a virtual market if the government is worried about being able to enforce rules that control the bitcoin itself

In Asia, there are some countries that pass on Bitcoin, but I'm not mistaken, there is certainly Japan as the country that legalized Bitcoin.

As of today not only the phillippines are the ones to accept bitcoins but also Japan has made a move to accept Icos and Crypto for their sevices. Modern tech being implemented because of bitcon is certainly good news.

I think Philippines will lead in Asian market and then Malaysia

Yes I think currently Asian countries have shown a good attitude towards Bitcoin recently with the Philippines taking a leading role in validating a good Bitcoin to hear that public transactions are being developed. I strongly agree, for all holders of Bitcoin really need good news, let's make positive news about Bitcoin.

it's only the start, but I'm really glad to see new countries on board. Asia has been doing great so far in my opinion, given the south korea and japan, they're ahead of the rest of the world in terms of regulation

More than that I have already heard that Philippines has already allowed and regulated bitcoin usage in their country. This is completely awesome for me, I think many of other countries will see them and follow their decision.

After all the bad news from China and Indonesia. The government and the central bank of the Philippines greatly accepts bitcoin and this is a good news to us who need another source of income. Let us all spread this great news.I just hope that developing bitcoin and other cryptocurrency would positively help Filipino people to benefit its worth. I hope other countries will follow suit soon.

Philippines make a good decision. While many country in Asia is afraid of cryptocurrency trading, Philippines choose to make a good move about crypto. Its very a good news!

It seems to have been legal in all countries but most governments ignore it

 Philippines and Japan are the 2 Asian countries that supports cryptocurrency the most. I hope more Filipino people will know about cryptocurrency. I will monitor the development of this because I am very much affected in whatever direction this will take. Japan's provisions help prevent misuse of bitcoins and other crypto-conversions for illegal activities and require banks and other companies to verify identity, store reports and report suspicious transactions.

Compared to the past years, the crypto currency community is much in bloom nowadays, and it keeps on getting more people. And this is a great news for us to hear that in the continent of Asia, their will be a country that will develop bitcoin transactions legally. I hope that Bitcoin will keep on spreading around the globe.

         Since everyone accepts that Japan is the fastest developing technology market in the world it is also one among the Asian countries to develop Bitcoin legally .  The government of Japan has set a payment service act which allows cryptocurrencies and exchanges to be used for payment and trading purposes .Japan is considered a hub for cryptocurrency trading and exchange in Asia . Even though trading in Bitcoin is legal in Singapore in some cases Bitcoin is taxable in Singapore .

Except for individual countries, most countries treat bitcoin as silent, representing concern, but not disturbing.
While China bans ICO, it does not say that it prohibits bitcoin transactions, but all major exchanges transfer themselves to other countries in case the Chinese government bans them.

I am looking forward to the country of Japan to make this matter happen. To raise the name of the continent of Asia as the main country here for crypto currency. That Japan will develop bitcoin transaction legally.

Hopefully many countries around the world will accept bitcoin so that bitcoin prices can return as before.

Some countries legalize bitcoin, others forbid. There is a struggle of two opinions. And who will win is not clear. But I certainly would like that bitcoin became legal and people could earn money and not depend on banks.

True our country philippines not yet legalized bitcoin.and theres lot of scam news that involved the bitcoin.hopefully soon will accept butclin as well same with japan.

Yes that is true that these are the two Asian countries who have legalized bitcoin in their countries, i think that very soon we will see that other countries from Asia will make bitcoin as a legal currency, but it will take some more time because till most of government are thinking about it and are still reluctant to take any decision about bitcoin,

Bitcoin is not a really big issue in Philippiines so they are not banning the bitcoin because they need focus in other issues that happen in the Philippnies.

It is actually a good  news and bold step on the part of the country. All that i wish for is to wake up on day and find out that all countries in the world has legalized bitcoin our mother coin

This only shows that despite all the controversies and FUD's, Bitcoin can play a positive role in an economy as long as our leaders sees the better side of it. The Filipinos may generally be considered conservative, but as time passed, the way of thinking have surely changed. And so being open to change has certainly made more pros than cons. Though regulations are to be set, it is good to know that these are being made with the purpose of protecting its people from fraud or any other of its kind.

I think it is Japanese. The Japanese government allowing bitcoin to operate freely. They encourage people to use bitcoin. Banks here accept bitcoin payments. Bitcoin market in Japan to grow very strong.

Well, I would say that it will be a big step, especially for the Philippines because I have seen in this forum. There are so many Philippine-based users of cryptocurrency, and if their government plus some big business entities would actually contribute in its legalization and continued usage, then it will be a big help for their local cryptocurrency community, and it will surely open more doors for them in the international cryptocurrency market. However, my fear here is if this move will not be seen through and would only be half-baked, it would ruin the local market scene than help it.

It will spread in local news like CNN, and many countries will follow. There are many things they can do as an authorized entity in their country. The dedicated traders will do anything to bypass the law by using VPNs to hide their addresses being monitored in the network. This provision means that the government will provide securities to the trading floors of the cryptographic market in order to avoid fraud, fraud and other unlawful acts related to infringement.

Its a very good news for bitcoin. Although all over the world some country accept bitcoin legally and some country have no rule about bitcoin. But they should legal bitcoin where they still dose not accept it. Its a modern technology and we should take advantage of this.

Now that the growth of Bitcoin and other cryptocurrencies are in place, I think the Philippines is going to massively adopt this in a few years from now. I am so happy that the Bangko Sentral ng Pilipinas (BSP) has legalize investing and trading with Bitcoin and other cryptocurrencies in the market since they are so open-minded with the technology that would help their economy in the long-run. Just my two sats.

Most of countries is planing to regulate bitcoin but according to their own law and policies but in almost countries peoples are using bitcoin as legal but not sure in future which country ban or not ban. now everyone know bitcoin is a decentralized currency and no one is controlling it also its transactions is not traceable so governments need to regulate it because after regulation more investors will be interested for bitcoin.

It is already legal in most countries but most countries have not made any rules about bitcoin.

Asia has been a great adopter and supporter of blockchain technology. Anyways there are some few countries still contemplating about this but the general impression there is quite okay. I hope the other countries from other continents also follow suit.

Guess crypto ATM and Tokki solutions exactly what you need. We can help you if there will be interest.

The news is a few months ago, and now we see more Asian countries open to bitcoin, with a large population in Asia, and these countries' attitudes towards encryption will have a positive impact on the community.

I hope so too that bitcoin is immediately legalized in some countries including in my country, hopefully all laws and regulations they set are for the betterment of the people, not political tactics to take advantage unilaterally.

maybe it is more appropriate for Singapore, Indonesia, Malaysia and then the Philippines which can be open to Bitcoin.

but that doesn't matter to anyone and whatever the role of the state for the progress of Bitcoin is good news that can make the price of Bitcoin go back green.

Philippines is developing by doing this and I think it will have nothing to loose but to win. They are going one step ahead

Yes, we had some requests from Philippines regarding our crypto ATMs.
If someone interested, you're welcome.

Really the Philippines is the pioneer? This is good news for Bitcoin users around the world in general and Asia in particular. In the past, I used to think that the Philippines was a slow economy, but now I have to rethink that they give Bitcoin investors more confidence and can attract more Bitcoin investors. .

Is it true that Philiphine will develop a legal bitcoin deal? If yes I think phipiline is one of the Southeast Asian countries that make legal bitcoin in their country, and i hope if this happens other country like singapore thailand will follow them

Well there's a lot of horror stories from different Bitcoin holders regarding their attempt to exchange their Bitcoin from BTC to Philippine peso. One of them is the exchanger it self when they close accounts without notice to users. The exchanger claims that AMLC or the Anti Money Laundering Council has ordered exchagers to be strict in accepting new users to avoid use of Bitcoin in hiding stolen money. Its legal indeed but I dont know how you guys feel about providing IDs to  the exchanger.

I guess it's better to use crypto ATMs to buy/ sell crypto currency. You can check it on www.trovemat.com

in developing times, I feel that not only developed countries are giving legality to bitcoin but developing countries will follow developed countries

It will spread in local news like CNN, and many countries will follow. Dedicated traders will do anything to bypass the law by using VPNs to hide their addresses being monitored in the network. That is a very good news for bitcoin. But they should legal bitcoin, where they still dose not accept it. I am happy that Bangko Sentral ng Pilipinas (BSP) has legalized their investments and deals with Bitcoin and other electronic money in the market because they are very open with technology that can help their economy in the long run term.

Do you think someone in Philippine could be interested in crypto ATMs and crypto POS devices?

Japan has authorized bitcoin as a legal currency for digital transactions. This endorsement is marked by the number of retailers who accept payment with bitcoin in Japan. Although bitcoin has been legalized as a legal currency in Japan, according to Mai conventional currencies like the Yen are still not replaced. This is due to the limitations of bitcoin top up machines in Japan and it will take time for laymen to get to know bitcoin and understand the exchange process from conventional currency to bitcoin.

Now it's time to discover Japan market with our products )

While most countries use bitcoin as money (or one item) change. While some countries have explicitly allowed and used the Philippines as an Asian republic, it has operated in cryptocurrency.

I recently heard from Thailand that it has accepted the exchange in the cryptocurrency market.

Countries with large populations, on the contrary, welcome crypto and bitcoin. Asia is developing very fast, and people there are not stupid. And it seems to me that this news is already a little outdated and it's time to forget about it already?

It's great that Philippine decided to legally the bitcoin. These means that the county aware of the goodness of bitcoin especially with the technology behind it aka blockchain. I hope this movement will influence other countries especially in Asia.

If the bitcoin trading regulated there, will it be taxed in every profits from a trader gets ?
If so, it's better the goverment not regulate the crypto trading :D

This is a very great statement though as far as I know, most countries in Asia are accepting bitcoin legally or do not ban bitcoin in their country's market. Hopefully, everybody will do the same. And also, cryptos must be more secured and safe to everyone.

Anyone here who want to be crypto ATMs or POS operator in Asia?

That is not important to anyone and regardless of the role of the state in Bitcoin's progress, good news can make the price of Bitcoin return to green. They are one step ahead. This is good news for Bitcoin users around the world in general and Asia in particular.

If the news is true news, then for me is something positive that can make bitcoin stronger and more trusted. Hopefully every country in the world will follow that, and make bitcoin a legitimate method of payment transaction and legalize the use of bitcoin. If this can be realized, the future of bitcoin will certainly get better and public trust in bitcoin will be even higher, and the most Most importantly, it is my hope and our hope that the price of bitcoin will increase even higher.

I think Japan should be the most supportive about this stuff. It is where the man who developed bitcoin came from so Japan should 100% give its support to this thing. Also, here in the Philippines, cryptocurrencies are being welcomed so I hope it will continue.

If there are countries that develop bitcoin transactions legally, that is good news for the development of bitcoin. Hopefully other countries will also participate in developing bitcoin as a legal transaction, so that the future of bitcoin will certainly be better and can enable someday to become a legitimate currency for all countries in the world.

The news sounds great. This is a good sign for the crypto market. It will protect users from hackers and thefts. That $530 million worth theft of digital coins that happened in Tokyo was shocking and it would be good to prevent it in the future.

Along with the occurrence of many cases where ICO promoters disappeared by taking away some investors' money. The Philippine Securities and Stock Exchange Commission is currently working on a policy that will regulate cryptocurrency transactions such as bitcoin, to protect investors and reduce the risk of fraud. And they hope that regulations that will cover the issuance and registration of these virtual currencies, are expected to be completed this year.


That's right, friend. Maybe, one by one they will join to legalize it hopefully the future of bitcoin will be better.

this's a good news. i wish you can have me more news like this in the future my friend  :P :P :P

The Philippines is a retarded country. I think allowing Bitcoin to be used legally will attract the country's investment. This would be good for the Philippines, and would facilitate the promotion of other countries to accept Bitcoin.
However, accepting Bitcoin to deal with complex issues of management, I expect the Philippines to do well.