Bitcoin Forum

Bitcoin adoption is growing gradually with different countries pushing for a framework within which it can operate and thrive. The latest is news that the Philippines is giving approval for draft rules for ICOs and cryptos , a move that will see encourage it adoption. What about your country, Is the government legalizing bitcoin?

https://news.bitcoin.com/philippine-sec-approves-draft-rules-for-icos-and-crypto/

I think in North America they are acting tough on it however in the end they keep giving in.  I think the powers that be want this digital currency to replace the dying fiat. 

It's about time, i'd say. The Philippines' crypto scene is looming with scammers and fraudsters alike that it's time to tighten the rules regarding ICOs which these fraudsters use as a front for their operations. It's not really bad to have regulations set specially if it's for the betterment of the scene. It eliminates the fraud and opens an opportunity for genuine people wanting to learn.

It's a gateway to the skeptics to have an assurance that it is approved by the government. And once the government gets involved, they have also their aim.

Philippines Regulator Aims to Make $67 Million From Crypto Exchange Licensing (https://www.coindesk.com/philippines-regulator-aims-to-make-67-million-from-crypto-exchange-licensing/)

Absolutely. A lot of scammers are coming into bitcoin which is very unfortunate. Regulations is very much needed and it will be helpful for users for a better bitcoin system. This is why ICO ads are getting bad in some social media platforms and websites.. because of the scammers and people who use it for bad purposes.

Unlike many people, I believe regulations are good for Bitcoin and crypto. I understand it'll bring more stability and trust. The value, most probably, will go down and it'll cease to be that lucrative, but it's okay. You can't have both, so you'll have to choose between the profitability and stability.

I personally worry about the price fall whenever I hear a news about regulations. But that's for short term. Regulation is not that bad. I think, after regulations we will also see new jobs in cryptocurrecies world.

Glad that the Philippines is moving forward with cryptos and ICO. Unlike other asian countries which choose to against this technology, at least the government is very friendly and they could potentially be a blockchain industry hub. It will push Philippines on the map of project teams and we might hear one day that a startup company has chooses the Philippines as their headquarter. Let's see how it pans out.

As adoption increases, the effect is increased
But ..?!
Fraudsters must be prevented from leading the process as a whole
Because that would have a negative impact in the end
In the Philippines many scammers are in the field of ICOs
As I read earlier.