Philippines First Regulated Bank for its Cryptocurrency and Trading services.

[isaac_clarke22]

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I must be sleeping through the banks and trading services here in my country. Usually I just use Coins PH anyway when it comes to my crypto holdings plus I do not trade that much.

Knowing that Unionbank adopted crypto is not surprising anymore. I would not even be surprised if BPI, Landbank and BDO would follow after this news since crypto is pretty much gaining popularity here after the NFT craze many months ago.

[goaldigger]

one step forward for the philippines,
with bank regulations specifically for cryotocurrencies, will add progress for sure, will encourage enthusiasm for crypto investors, there will be many countries motivated by the Philippines' actions, and people who are not familiar with crypto, will definitely start to be interested in buying it.

Adoption will always be a good news but this can also trigger regulations which I see as a problem to those who are not afford to give some informations because of their limited resources, this bank adoption might require a more intensive KYC which I’m afraid to deal with.

Unionbank are very advanced when it comes to their technology and when it comes to supporting cryptocurrency. There are still no guidelines with regards to this but I hope that it will be more fair. I wonder if your money can be easily freeze if you didn’t comply for their KYC requirement.