Judith Balea, reporting for Tech in Asia;
The Philippine central bank has decided to regulate virtual currencies, particularly Bitcoin, with more and more people using it to transfer money across borders.
Taking its cue from Japan, the first country to issue rules for Bitcoin in Asia, the central bank finally recognizes that the cryptocurrency “has the potential to revolutionize delivery of financial services” and “further support financial inclusion.”
You can read the full text of BSP’s Circular No. 944 here.