Central of the Philippines Recognizes Bitcoin

[Cacingkemi]

Very happy to hear this previous state philippines lies in asia my neighbor country there is very advanced his government also support the progress of his people,this is for example also for a country that has not support BTC in full.I hope this news sounded till my country government,so that they can think again support BTC for its people.

[karmakeddon]

I'm not really sure why Globe and Smart are now into the cashless payment race but didn't even include Bitcoin options in their respective wallets (Gcash, PayMaya & Smart Money).

These will never happen. It is due to the volatility of the price. The heads of these businesses are old school. They prefer fiat or precious metals in their investment portfolio. Perhaps, when young bloods take over, those who really understand how crypto currencies work, then we will see this happen.

[crustez00]

That great news will bring bitcoin demands goes skyrocketing  The prices will get good this end of the year and for next year i hope there's more country that do the same or if they can go more than this awesome news 

[rhodelmabanal]

Yes, people seems to confused that BSP needed to scrunitinized the BTC community. Somehow apps that can access moneys are needed to legit in the Central Bank of the Philippines. BTC became more popular that any crypto currency in the country, which I think they support the financial connections in the country. They realized that people are interested in getting a career in many online jobs to BTC matters. Coins.ph are examples to Central Bank connection more popular than Globe GCash or other establishments,  I hope that they really support in more years to come.

[DMiracle1]

Central Bank of the Philippines finally recognizing bitcoins potential to revolutionize delivery of financial services etc. Yes this is good news indeed. Today BSP's new circular, Bitcoin companies are now to be treated as remittance companies. Which means that all requirements for remittance companies shall apply to Bitcoin startups. Wow. These kind of news, somewhat triggers the curiosity of the nation about cryptocurrencies and i am positive that sooner or later, more and more Filipinos wii be on to bitcoins. More happy people.

[Rebisco]

Central bank of the Philippines became aware to what is bitcoin and what benefits that we can earn from bitcoin. The bitcoin is now legalize in the Philippines and it seems that many people are now entering to the cryptocurrency world.

[laluna24]

This means Bitcoin has become famous worldwide even in the Philippines it is been recognized by Central of The Philippines. We will see bitcoin will be more develop because of more supports coming from the user itself. And ofcourse Im hoping that there will be a merchant happen in the coming years.

[dewi91]

I apreciate to central bank of Philippines.. they are make the bold step to recognize bitcoin as a payment.. I hope my country can follow Philippines to recognize bitcoin, maybe like that can improve the economi problems in my country..

[ro2sf]

I'm not really sure why Globe and Smart are now into the cashless payment race but didn't even include Bitcoin options in their respective wallets (Gcash, PayMaya & Smart Money).

These will never happen. It is due to the volatility of the price. The heads of these businesses are old school. They prefer fiat or precious metals in their investment portfolio. Perhaps, when young bloods take over, those who really understand how crypto currencies work, then we will see this happen.

Yes, I think I might agree with you on this. Until cryptocurrency will go mainstream and/or the new generation of business leaders will take over, these big telcos won't really implement them on their systems.

[Bonakid]

http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

Wooh I am so excited that Central Bank of the Philippines recognize bitcoin as another digital currency of our country.It is a development of our currency that it became popular in my country I cannot hardly explain it to other as long  they are gettin to know about bitcoin now.I  really appreciate it if they would implement bitcoin in the Philippines.

[Transformbitz]

Yes it is. Filipinos are wide spoken and very sincere when it comes to technology, Central Banks said that there are 2 exchanges in the Philippines that are regulating bitcoin and I think Filipino traders are good at handling it.

[szpalata]

Yes it is. Filipinos are wide spoken and very sincere when it comes to technology, Central Banks said that there are 2 exchanges in the Philippines that are regulating bitcoin and I think Filipino traders are good at handling it.

The Banku Central i guess is going to help ma loty of their kabayans on this forum because many are desperately involved in signatuire campaigns and  so by recognizing bitcoin they will be able to cash out money easily without restrictions. The exchanges are in turn going to add foreign exchange to their local economy.

[Nylelyn]

This is really a great news. By being recognized by the Banko Central of the Philippines,  Bitcoin value will definitely increase. And aside from that, it will now be more popular to  Filipino people from all levels. Our eyes will be opened on how we can utilize bitcoin as a monetary and become part of our daily lives and transactions, thus could mean a big help and could have more positive affect in our lives.

[Gladz29]

I am Filipino. Good news to us filipino that bank of philippines recognize the bitcoin. Becasue it is big help to us using bitcoin,although some of filipino not recognize or know the bitcoin. But someday if their a chance that here in philippines using bitcoin to buy some stuff or buy our needs I think all filipino use bitcoin forever.

[Japinat]

I am Filipino. Good news to us filipino that bank of philippines recognize the bitcoin. Becasue it is big help to us using bitcoin,although some of filipino not recognize or know the bitcoin. But someday if their a chance that here in philippines using bitcoin to buy some stuff or buy our needs I think all filipino use bitcoin forever.

There no such thing as forever, bitcoin might be the best online currency now but we can expect more useful online currency will be develop.
Due to the popularity of bitcoin the Philippine government already recognizes it but I haven't seen any concrete guidelines yet stating that they fully regulated bitcoin, the big news that I know is that they issued permits to exchanges sites which one is the coins.ph.

[Seaze007]

Im Filipino also. But what i see in our country, only few people here in our country knows and appreciate bitcoin and only few companies or markets are accepting bitcoin. So this is a good news for all of us who use bitcoin. Hope this will intensifies the progress of bitcoin in our country so we all could benefit from it.

I am Filipino also, and yes not all Filipino they do not know about bitcoin. But if they give a chance to teach about bitcoin, more Filipino will interested about bitcoin. And more Filipino will work harder to get more bitcoin...

[galvan jean]

I'm from Philippines also. Yes its good news to us! Because many Filipino heard that news they might been interested to invest to bitcoin. So the price of bitcoin will pump to high.  What if big investor can read that and invest big money the bitcoin price go to the moon. Thanks to bank central ng pilipinas for publishing like that news. Many people the job is bitcoin and many (ofw) overseas Filipino workers the sideline in bitcoin. I think it will not end this year bitcoin will become popular in my country.

I'm a Filipino It is good opportunity for many Filipinos at the Philippines because some there are want to invest in bitcoin. Many Filipinos will know and they can help bitcoin community to pump the price a large again. Many investors of bitcoin I think lots are Filipino. So I am very happy to heard that news many Filipinos will be educated because of that.

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin.

[IceOleg]

The thread is mostly 1 year old. Does that actually happen? And what it actually mean? Is there any legal businesses in Phillipine that accept Bitcoin?

[mistanama]

http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

This is an honor for me because I am from the Philippines as well. Certainly big changes will be realized and many Filipinos will lose their poverty and become financially independent. Finally freedom is ours to enjoy.

[ro2sf]

The thread is mostly 1 year old. Does that actually happen? And what it actually mean? Is there any legal businesses in Phillipine that accept Bitcoin?

The recognition of the Central Bank of the Philippines was actually for the likes of Coins.ph and a few Bitcoin exchanges in the Philippines. There's also a Bitcoin ATM in Makati City but no small businesses yet such as coffee houses, computer shops, etc that I know that accepts Bitcoin.

But I think give it a few more months or years, Bitcoin will slowly be adopted by businesses. I know for the fact since I myself and a few other friends will be putting up a businesses that will accept Bitcoin soon.