They have released this for a while back and only a handful of new exchanges have been accepted by the BSP ever since. I'm actually quite amused on how the Philippines do such things with regards to cryptocurrency acceptance. They ensure that the citizens wouldn't get lured into scams, get the trusted once approved on their books and build the crypto community into a safe scene wherein everyone can get their interests freely without fear of getting scammed in the end. Well for the record, Betur Inc. has been operating since 2014, even before cryptocurrency became mainstream and the government never really issued any warnings whatsoever on the operation of the said company.
The government of the Philippines via the Bangko Sentral ng Pilipinas (BSP) and the SEC have had been doing their contributions to make sure that there is a great balance in embracing new technologies but at the same time addressing concerns like money laundering and financing terrorism as well as the use of cryptocurrency in the drug trade which recently surfaced. So far, all players especially Coins.ph are all following the rules and procedures strictly implemented by the governmental agencies. I think the same can be done in other countries where there should be cooperation, openness and strict compliance no matter what.
I am seeing a great future for cryptocurrency in the Philippines and hoped that the country can be one of the big pillars in Asia for the industry. We are looking forward the coming of a Philippine-based trading and exchange platform that can carry the name of the country in the world of cryptocurrency...so far the platform introduced by
Coins.ph has still to make a good traction.
