The local exchange, coins.ph has been operating for years now, way before the government 'legitimized it'.
Yes, it's a great assurance that everything is legal and that it'd be unlikely, if not hard, for the exchange to just up and disappear.
It's just, I wonder how far the government will go with their "regulation", cause frankly, I do not want my coins and earnings from bitcoin to be taxed.
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
More local businesses accepting bitcoin as payment is certainly welcome. (The taxes, not so much. Paid enough of that as it is.
![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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![Grin](https://bitcointalk.org/Smileys/default/grin.gif)