Many governments around the world are preparing regulatory policies concerning cryptocurrency markets. The Philippines is now next in line to regulate Bitcoin operations as the central bank deputy governor, Nestor Espenilla, has revealed new virtual currency guidelines.Bitcoin.com reported last June that the Philippines central bank, Bangko Sentral ng Pilipinas (BSP), was preparing new guidelines towards Bitcoin companies in the region. Now the BSP deputy governor, Nestor Espenilla, has published a circular (BSP Circular №944) that defines the government’s position concerning Bitcoin operations.
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