Bankgko Sentral ng Pilipinas, hereinafter BSP, is officially regulating local Philippine Bitcoin exchanges as remittance companies and recognizing Bitcoin as a legitimate payment method.
Earlier this month, BSP Deputy Governor Nestor Espenilla announced the plans of the Philippine Central Bank to issue a proper regulatory framework for Bitcoin users, exchanges and companies. Espenilla emphasized the exponential growth of Bitcoin within the country, stating that monthly Bitcoin volumes increased from $1 mln to $6 mln a month in a year.
Full story at http://bit.ly/2lLLD4y
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