Philippines Legalizes Cryptocurrency Exchanges in Economic Zone

[JoshMart]

Wow! If this holds to be true, then the potential to gain investors  or exchanges will have positive effects on the economy. However, it will not be void of challenges during its first few months (or probably years) of implementation. For one, regulation or centralization. It would probably mean that transactions will be monitored which somehow opens up trader information and such. At any rate, I personally think that this is one good step towards a potentially bright future for investors and exchange companies. Let's how this unfolds.

[c++btc]

Yes. I am reading some articles about our country and in about the cryptocurrency well if this will happen the  Future of Cryptocurrencies in the Philippines will be a good looking and not as badinfluence in online earners and also for a fastest communication.

[almersyn]

wow very interesting! the presence of bitcoin began legalized in various countries, especially the Philippines. yes, crytocurrency is a digital currency is indeed nowadays has been completely digital. Governance should digitize various aspects of society and especially in the financial aspect. Because one day we think we do not use real money but with virtual money

[surbanaB]

Well, that's a good news! Even though the volume from Philippines is not that significant, but I believe it will certainly increase after this move. However, I have a question here, are those exchanges will allow investments from outside Philippines? I am not talking about the fiat to crypto exchange or vice verse, just crypto to crypto exchange I am asking. I will be glad if anyone can answer this. Because that can be the unique selling points for those exchanges. 10 exchanges can't survive along with the volumes of Philippines. They need to have the permission to operate worldwide.

Oh, since I heard this good news, I wish to live in Philippines even more. Considerably  there will probably have some more strict on this decision. Yep, definitely it brings them much confusion, one of the most trouble they have to face is scammers. I think that if Philippines legalize bitcoin, it will definitely accept bitcoin both in and out of the country. I hope that from the allowance of bitcoin in Philippines, there will have many other countries legalize bitcoin. If this may occur, the bitcoin value can increase significantly, that makes all of us have chance to use bitcoin.

[Roukawa]

This is just the beginning on how Philippines will open the country for the innovation of technology. I am glad that the present administration are not blind to the effect of cryptocurrency in economy. The good thing here is that, even there are numerous scam news in our country, the government did not ban the cryptocurrency instead, they slowly legalize the cryptocurrency.
I hope that the legalization for cryptocurrency will continue and all of bitcoin scam will eliminate in our country. Scammers are the one who destroy the reputation of bitcoin.

[isidrorex]

I first read this article in our groupchat of Filipino Traders Chat on Facebook, and everyone of us was happy about this because it just shows that many Filipinos believe in the future of Cryptocurrency and their impact in our Economic Zone. We are lucky because our government is open-minded about the new and bigger opportunities that awaits if they allow and adopt Cryptocurrency in the country. I am very excited of the future knowing that something big awaits all of us so it is the right time to invest and consider Cryptocurrency.

[UltimatePro]

Seems that the Philippines are forward thinking. I wonder if Duerte had anything to do with this.

[yndye]

Definitely good news as the country is embracing the change that cryptocurrencies bring. Regulation would be good as it established trust for those people who are skeptic about it and it would encouraged more businesses to consider cryptocurrencies as payment option. I hope that they will take advantage of blockchain technology in other industries and maybe in government activities like election because there is too much manipulation in it so doing it using blockchain technology would eliminate the doubts of the people as it is transparent and no election protest will happen.

[Pinoyfan]

Well this is another good news for Philippines. But i think Philippines will be more strict on implementing for this, so that it will not become a haven for scammers too. Cryptocurrency is a pioneering and this blockchain technology is new that can be exploited for fraudulent purpose.

I think cryptocurrencies are already legal in here in Philippines although our media says that cryptocurrencies especially bitcoin is a bad thing. They only said it used in illegals. We are so disappointed cause our media was so brainwashing. Theres a lot of fake news here in Philippines. Our president working hard to solve that issue but i hope that bitcoin will regain its name.

[D3m1r4wanti]

hopefully this good news can be considered and in the example by other countries especially in asia so that more countries dibenua asia can legalize bitcoin like state of philippines

[Ramtapsbtc]

Well this is another good news for Philippines. But i think Philippines will be more strict on implementing for this, so that it will not become a haven for scammers too. Cryptocurrency is a pioneering and this blockchain technology is new that can be exploited for fraudulent purpose.

It is a welcome news to the crypto world and most probably a music to the ear for those who are involve in cryptocurrency specially in the Philippines. you are right, we should be cautious enough for these companies and should monitor them always to avoid doing scams. The Philippines is a well known country to be corrupt in the past administration and i do hope i already changed now.

[Rono]

Wow, this is really an excellent news for all of Philippines general people who are connected with this Platform. Government Understood slowly country by country it will spread and all over the world they can Accept the crypto policy. There has been a good sign. General public figure Get the opportunity of the job and government will be a benefit.

[rysheeer]

This would be a great opportunity for our country (Philippines) to embrace the innovation of technology but they need to educate the people the real use cases of Cryptocurrency so they would avoid investing on scam ICO's and Ponzi schemes.

[thrylos]

Wow this is another big news of cryptocurrency in the Philippines. This news shows the greatest future of crypto currency around the globe,  aiming success is not easy, but hearing some good news like this is a kind of a one step of a giant towards the goal. And I believe that Philippines will be one of the crypto helper to deliver what it should need to be done.

[thecoder2017]

Its nice to hear that Philippines accept bitcoin and had exchanges it is a good opportunity to its people and this may lead in improving its economy because i believe that bitcoin can help in solving poverty which is one of the major problem of this country.

[clickerz]

Philippines is fast becoming one of popular country in in Asia which is very supportive of cryptocurrency.This move will attract more crypto investors and fintech company.This will help Philippines utilizes the said blockchain technology.

[7Dyoknga5]

This is a great news for Filipinos! This would attract more investor and hopefully programers and developers as well. As of now there's only one application who"s acknowedge by the central bankl'

[Marrionbitcoin]

That would be a great news to all Filipinos. Bitcoin might be the answers to poverty that can change the mind set of investing money and earn than spending to unnecessary expenses. This is a good opportunity to the Philippines to use Bitcoin in our daily lives and the Government must raise awareness to its society so that they will know the benefits of Bitcoin.

[btc_angela]

That would be a great news to all Filipinos. Bitcoin might be the answers to poverty that can change the mind set of investing money and earn than spending to unnecessary expenses. This is a good opportunity to the Philippines to use Bitcoin in our daily lives and the Government must raise awareness to its society so that they will know the benefits of Bitcoin.

I agree that bitcoin can really help a lot of Filipinos but I doubt it can be the answer to poverty. Bitcoin is not the solution to it because its a mode of investment and  not a get rich scheme. But yes, this is really good news not just for Filipinos around this forum but throughout the globe. We have one nations who is favoring crypto as compare to some country in South East Asia who shut it down and put a total ban on crypto like Indonesia or Nepal. Maybe we could see a lot of blockchain developers in the future from the Philippines, as its only one of the IT hub in the region.

[BillCoin]

Great news.
Always good to see developing countries that see bitcoin in a positive way, because it shows innovation and it is a sign for a bright future.
It's pretty well known that big countries and organization that are already  deep fiat will try to block bitcoin as it aims to destroy their stability, but I just can't see a reason for developing countries to do so and that is what we should be aiming for.