Bitcoin prices rose on Wednesday amid reports that the Philippine Securities and Exchange Commission (SEC) is considering allowing crypto currency exchange platforms to operate in the country.

Bitcoin edged up 1.0% to $ 7,353.4 at 11:55 p.m. on the Bitifinex exchange, while Ethereum fell 0.4% to $ 284.69.

Meanwhile, XRP traded at $ 0.33045, down 0.8% in the last 24 hours on Poloniex, while Litecoin rose 1.3% to $ 67.497.

The Manila Times reported that the SEC would work with Bangko Sentral ng Pilipinas, the country's central bank, to arrange exchanges.

Citing SEC Commissioner Ephyro Lius Amatong, the Manila Times reported that the agency is likely to release draft regulations later this month and that they aim to regulate exchanges as a trading platform as soon as possible.

"We see the need to regulate them as a trading platform," Amatong told reporters.

"We have discussed this issue with BSP because BSP is also interested and we are also interested. The discussion ... [involved] supervision of cooperative cooperation on VCE involved in trade, "he said.

In other news, the Japanese Financial Services Agency (FSA) said the country was a currency that was reforming the registration process for crypto exchange.

"The state watchdog has increased the number of questions asked when filtering applications up to about 400 items - up fourfold," the FSA said.

FSA commissioner Toshihide Endo later added that the new regulations were not intended to limit financial innovation in the country, and that supervisors only intended to see the crypto industry "grow under the right regulations."

1. Advantages of Bitcoin Investment: Bitcoin Security Factors
 Bitcoin is very difficult to fake by other parties. Besides that, every Bitcoin that exists and every transaction made will be recorded on the Blockchain. This makes it possible to know the amount of Bitcoin and transactions that have been made.

2. Excess Investment of Bitcoin: Can Be Used As Savings
Bitcon is a form of savings as well as investment that has a simple and no hassle system. Bitcoin value has the potential to continue to rise from year to year and can be a very profitable investment tool. However, you still have to be aware of the high risk of Bitcoin. Because, it is not impossible you can suffer losses from investments made.

3. Advantages of Bitcoin Investment: Bitcoin is Easy to Use
The ease of use because of its world-recognized and digital nature. When you want to transfer money, you only need a Bitcoin Wallet or Wallet that you can make easily.
4. Advantages of Bitcoin Investment: Pure Bitcoin Value Based on Market Law
Market law reads, when an item / service experiences an increase in demand, while the supply of goods is fixed, the price of goods will increase. Likewise, when the number of bids is higher than the number of requests, the price will decrease.
5. Advantages of Bitcoin Investment: No Party Can Intervene in Bitcoin
The thing you need to understand next is Bitcoin using a decentralized system. This means that there is no party to regulate it, because all parties can participate in the process.
6. Advantages of Bitcoin Investment: Bitcoin is Easy to Carry Easily and Safely
Because it has no form and is a virtual currency, you can carry whatever amount of Bitcoin you have. In addition, you can still feel safe from a potentially disturbing crime during your trip.

7. Advantages of Bitcoin Investment: All you need to do is enter an email address and right away you can get a Bitcoin account. This convenience allows you to have many Bitcoin accounts with different ownership names.
8. Excess of Bitcoin Investment: Secrets to Maintain
The thing that makes your secrets more awake because when you make a Bitcoin address, you don't need to use your real name or residential address.
In this way you can create a Bitcoin account and keep the account owner confidential.

9. Advantages of Bitcoin Investment: You Can Use to Pay Transactions
The last advantage that you can get when investing in Bitcoin is the ease of making payments for every transaction made. Merchants that provide Bitcoin acceptance services have spread throughout Indonesia and the world. However, you must really ensure that the merchant accepts payments using Bitcoin.