Aside from Philippines and Japan, now Australia is following suit, that is to recognized bitcoin as currency. This is a good news, and it will propel the continue rise of bitcoin prices. Its good to all of us who has bitcoin but an expensive now to start to the new ones but we know, the target for this year they say is $4,000 and we are on the way to half of it.
Philippine's Central Bank started regulating Bitcoins only 2017, but as early as 2014 the Central Bank of the Philippines issued a warning about use of Bitcoin. Now that Central Bank of the Philippines regulates use of Bitcoin, CBP is instructed exchange sites to step up their KYC protocols with Bitcoin users, making it more harder for us to register and withdraw funds. It's like your anonymity with using Bitcoins stops when you try to exchange your Bitcoins to Fiat in your country. I am expecting Australia to also step up the KYC protocols which also turns off Bitcoin users.
Well this could be a great step if the Australian government takes steps to regularize the BTC most of the countries I guess are now realizing that the BTC is not here to damage any social and development system. Nor is it here to be used for the support of any illegal activity. In fact the BTC have a very good impact on the life of the people and it can help reduce the poverty.
