PNB looks into use of bitcoin!

[paparexon0414]

Wow, thats really a news that will give a boost to the user of bitcoins here in the philippines. I was thinking what bank will i want to open a bank after what i read about the other bank regarding freezing the account of the bitcoin or crypto users. Now, i think PNB is a good option and coins.ph is also using PNB as their withdrawal option. So, i will start opening an account to this bank. Keep sharing this good news and hoping more banks are into bitcoins.

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[Kemarit]

Wow, thats really a news that will give a boost to the user of bitcoins here in the philippines. I was thinking what bank will i want to open a bank after what i read about the other bank regarding freezing the account of the bitcoin or crypto users. Now, i think PNB is a good option and coins.ph is also using PNB as their withdrawal option. So, i will start opening an account to this bank. Keep sharing this good news and hoping more banks are into bitcoins.

There are a lot of banks that coins.ph has partnered to including PNB. But I guess that you can still open other banks in the Philippines and will go to the same routine process as other banks have implemented in the last 5 years. I have created a thread beginning of  the year because I have difficulty opening a bank account here so I have to say that chances are you might be rejected in they find your documents insufficient and just tell them that your funds are coming from crypto, just saying. But I have to agree that this is a welcoming news for all crypto enthusiast in the country.

[Neraj Evad]

Wow, thats really a news that will give a boost to the user of bitcoins here in the philippines. I was thinking what bank will i want to open a bank after what i read about the other bank regarding freezing the account of the bitcoin or crypto users. Now, i think PNB is a good option and coins.ph is also using PNB as their withdrawal option. So, i will start opening an account to this bank. Keep sharing this good news and hoping more banks are into bitcoins.

There are a lot of banks that coins.ph has partnered to including PNB. But I guess that you can still open other banks in the Philippines and will go to the same routine process as other banks have implemented in the last 5 years. I have created a thread beginning of  the year because I have difficulty opening a bank account here so I have to say that chances are you might be rejected in they find your documents insufficient and just tell them that your funds are coming from crypto, just saying. But I have to agree that this is a welcoming news for all crypto enthusiast in the country.

That is a very nice news among bitcoin holders it added the confidence of people trusting this cryptos, so if this PNB is going into crypto especially bitcoin then this is considered another leap in bitcoin spreedout ,so we hope that it will continue for bitcoin prosperity

[magmar]

Good news for all Filipinos and the others

In my country the Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin?


TOP official of the Philippine National Bank (PNB) vows to study bitcoin amid Bangko Sentral ng Pilipinas (BSP) accepting stance on cryptocurrencies. PNB chair Flor Gozon Tarriela said they are looking at bitcoin and blockchain technology very cautiously but stressed the bank is not into it yet. “PNB will closely study the disruptions going on in the financial sector. We want to know more about the trends. We want to be aware of what is happening. But as to our plans to venture, we are not into it yet,” said Tarriela, adding that they are in the process of studying its dynamics and its possible effects to the banking business. A bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. While it recognized the potential benefits of virtual currencies as it facilitate the movement of funds at a much faster, cheaper, and convenient way, the BSP is equally cautious of the potential risks including illicit activities such as money laundering and terrorist financing.

It has advised the public that they have to be conscious of the opaqueness of transactions involving bitcoins. To minimize risks, the BSP encouraged existing and prospective virtual currency users to deal only with BSP-registered virtual currency exchanges and maintain only a sufficient amount of virtual currency enough to address transaction requirements. BSP warned that virtual currency users should properly secure their virtual currency holdings and observe security tips to protect the confidentiality and integrity of personal information and transaction details. “The BSP still has to issue regulations on this virtual currencies. But, we, in the banking industry advocate the know-your-customer first,” said Tarriela. PNB’s thrust this year is to go digital. Tarriela said they have launched mobile banking apps to cater to the needs of the tech-savvy market. “The way to go, really, is digital,” she said, adding that this will also help them reach out to the unbanked population.

Source : http://www.sunstar.com.ph/cebu/business/2018/03/09/pnb-looks-use-bitcoin-592675

It is nice tp jear that another country in asia is gonna accepts bitcoins and I jope that those things are true because I am a filipino and of course I gained money using bitcoins and I have a lot of bitcoins that I've hppd to be honest but I am not telling you that I am rich I am telling that bitcoins really help me from my daily living especially in school becausebI am still a college student. And I think of course the price of the bitcoins will change a bit because of that thing because people will be engage more in bitcoins than before.

[djgtr]

Good news, they are looking into use of bitcoin. I know that there are some banks in Philippines that ready to adopt bitcoin and blockchain.
This is one of the bank that will use blockchain to the payment system - https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/

That is good to hear if the PNB really works for that it means they are adopting into the latest technology form of business. If Blockchain will use soon as way of payment that would be cool because they are in a good hands of all bitcoiner and aside from that it will be easy to us because it is accesable to do the transaction process.

[saffira]

It is really a good news. It only means that crypto currency is considered in the Philippines and although not illegal but better to be declared as legal. So bitcoiners here are hopeful that we can continue working here without worrying that what we are doing is illegal or not.

[carlisle1]

Waiting for the update regarding this adaption and hoping will happen sooner

Pnb is one of the most stablished banks in the Philippines and i know what they are planning is innovation for the whole cryptonians in the Philippines to stay stronger and helps this community to progress ,then we can manage to counterattack the manipulation of the whales

[repzaj]

Good news, they are looking into use of bitcoin. I know that there are some banks in Philippines that ready to adopt bitcoin and blockchain.
This is one of the bank that will use blockchain to the payment system - https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/

This is good news, I think Union bank and Security bank is starting to adopt the cryptocurrency here in the Philippines.

[Michaelpascual]

I think this is a good news for all filipino bitcoin users. PNB is one of the banks well known the phillipines. It is one sign that Phillipines is adopting the new way of earing money.

[Macai]

There are several Banks now in the US accepts Bitcoin, and so its high time for our country to consider accepting it also so that we will not behind the advance technology about crypto currency.

[Ranly123]

Good news for all Filipinos and the others

In my country the Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin?


TOP official of the Philippine National Bank (PNB) vows to study bitcoin amid Bangko Sentral ng Pilipinas (BSP) accepting stance on cryptocurrencies. PNB chair Flor Gozon Tarriela said they are looking at bitcoin and blockchain technology very cautiously but stressed the bank is not into it yet. “PNB will closely study the disruptions going on in the financial sector. We want to know more about the trends. We want to be aware of what is happening. But as to our plans to venture, we are not into it yet,” said Tarriela, adding that they are in the process of studying its dynamics and its possible effects to the banking business. A bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. While it recognized the potential benefits of virtual currencies as it facilitate the movement of funds at a much faster, cheaper, and convenient way, the BSP is equally cautious of the potential risks including illicit activities such as money laundering and terrorist financing.

It has advised the public that they have to be conscious of the opaqueness of transactions involving bitcoins. To minimize risks, the BSP encouraged existing and prospective virtual currency users to deal only with BSP-registered virtual currency exchanges and maintain only a sufficient amount of virtual currency enough to address transaction requirements. BSP warned that virtual currency users should properly secure their virtual currency holdings and observe security tips to protect the confidentiality and integrity of personal information and transaction details. “The BSP still has to issue regulations on this virtual currencies. But, we, in the banking industry advocate the know-your-customer first,” said Tarriela. PNB’s thrust this year is to go digital. Tarriela said they have launched mobile banking apps to cater to the needs of the tech-savvy market. “The way to go, really, is digital,” she said, adding that this will also help them reach out to the unbanked population.

Source : http://www.sunstar.com.ph/cebu/business/2018/03/09/pnb-looks-use-bitcoin-592675

As part of the ever growing business of banks, they should also adopt in the evolution of currency. That is a great step for PNB to adopt on crypto just like what security bank and BPI do.

[cammie16]

good news, but I do not think that's enough to make the price go up again. bitcoin covers the whole world, and prices will cover all bitcoin activity around the world.

Yeah, if big country's bank will have this kind of news them maybe it will add impact to the price of bitcoin now, but philippines is not a large country and maybe few people use cryptocurrencies there.

[Juliedarwin]

It's a great news for all the people who use bitcoin and it's a great that the bank of PNB will now really connected to bitcoin. Hopefully will have more good news about adopting banks to bitcoin and will have more powers from that things.

[kumar jabodah]

This is a good news for the Philippines. Because Bitcoin recognizes them and accepts them by banks. Certainly the next will increase the use of bitcoin and this will result in higher prices. So now just buy a lot of bitcoins because it definitely will increase its demand and increase its price.

[maminelly]

if this is not fake news we must be lucky all Filipinos...Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin,i don't think that it will have any significant effects at all. PNB is not that big to drive the price significantly higher PNB's main clients are Filipinos, just think about how much Filipinos have bank accounts and what percentage of that number knows about bitcoin...Bitcoin is not yet widely known in the Philippines so assuming of any significant effect is doubtful....

[Jaybitcoin2018]

Good news, they are looking into use of bitcoin. I know that there are some banks in Philippines that ready to adopt bitcoin and blockchain.
This is one of the bank that will use blockchain to the payment system - https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/

I guess this news is true and however it seems to be a good news to everyone who use bitcoin as an alternative money substitute . It is easy to use .

Well, there is no doubt that many banking sytem all over the world are looking forward to the new technology assets. Some of them are accepted already because of many establishments accepting cryptocurrency as a mode of payments and etc. If PNB are thinking of this kind of system then it would be easy and fast transaction process will made a day.

[icecream sandwich]

Good news for all Filipinos and the others

In my country the Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin?


TOP official of the Philippine National Bank (PNB) vows to study bitcoin amid Bangko Sentral ng Pilipinas (BSP) accepting stance on cryptocurrencies. PNB chair Flor Gozon Tarriela said they are looking at bitcoin and blockchain technology very cautiously but stressed the bank is not into it yet. “PNB will closely study the disruptions going on in the financial sector. We want to know more about the trends. We want to be aware of what is happening. But as to our plans to venture, we are not into it yet,” said Tarriela, adding that they are in the process of studying its dynamics and its possible effects to the banking business. A bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. While it recognized the potential benefits of virtual currencies as it facilitate the movement of funds at a much faster, cheaper, and convenient way, the BSP is equally cautious of the potential risks including illicit activities such as money laundering and terrorist financing.

It has advised the public that they have to be conscious of the opaqueness of transactions involving bitcoins. To minimize risks, the BSP encouraged existing and prospective virtual currency users to deal only with BSP-registered virtual currency exchanges and maintain only a sufficient amount of virtual currency enough to address transaction requirements. BSP warned that virtual currency users should properly secure their virtual currency holdings and observe security tips to protect the confidentiality and integrity of personal information and transaction details. “The BSP still has to issue regulations on this virtual currencies. But, we, in the banking industry advocate the know-your-customer first,” said Tarriela. PNB’s thrust this year is to go digital. Tarriela said they have launched mobile banking apps to cater to the needs of the tech-savvy market. “The way to go, really, is digital,” she said, adding that this will also help them reach out to the unbanked population.

Source : http://www.sunstar.com.ph/cebu/business/2018/03/09/pnb-looks-use-bitcoin-592675

I am a dilipino and I am thankful that the pnb is looking forward to the use of the bitcoins because before there was an issue about it that the bitcoins and the cryptocurrency might be hard for the people to deal with because if ever that you losses money in here you cannot complain in a perspn because you cannot recover that anymore and there is no one source of money in here.

[hermae]

Thank you for this information. This is really good news for us Filipinos, but also for all of us here in cryptocurrency. These banks trying to adopt crytocurrency, just mean that it is another achievement and a plus to the cryptocurrency world. If this happens, then more and more people will be interested to join and invest cryptocurrency without any hesitations.

[richminded]

Waiting for the update regarding this adaption and hoping will happen sooner

Pnb is one of the most stablished banks in the Philippines and i know what they are planning is innovation for the whole cryptonians in the Philippines to stay stronger and helps this community to progress ,then we can manage to counterattack the manipulation of the whales

This is really good, since PNB is part of the government of the Philippines and this can be a good step to adopt the system. So many good news right now in the Philippines when it comes to regulations of cryptocurrency and I think they are currenty working on their local exchanges that is regulated by the government.

Thank you for this information. This is really good news for us Filipinos, but also for all of us here in cryptocurrency. These banks trying to adopt crytocurrency, just mean that it is another achievement and a plus to the cryptocurrency world. If this happens, then more and more people will be interested to join and invest cryptocurrency without any hesitations.

Every regulations of any country will matter in the long run, and Philippines is a great place to adopt this technology for sure the Filipino investors will continue to come as the Philippine government support this technology.

[camuszpride]

Any update on this now? If this will became true, I think this would be a great help for us saving our cryptocurrencies on a bank. But then I really need to know the latest update here.