Philippines power bitcoin startups development
The development of bitcoin startups tend to be quite strict supervision. However, the situation in Philippines recently improved, the situation becomes more conducive to bitcoin, which is a positive change.
Recently, a virtual currency trading and distribution in Philippines government documents, there are some interesting information. The Philippine central bank admitted enthusiasm bitcoin currency and encryption. Since bitcoin transaction has the speed and cost advantages, obviously better than the traditional products.
The introduction of the new regulation on Philippines bitcoin start-up companies, is a very positive signal. The government of Philippines and the central bank believes that bitcoin is an important part of the economic development of Philippines.
The latest rules does not involve application associated with bitcoin and encrypted currency. In view of this, the main focus lies in the supervision of remittance services, rather than financial engineering or other industries.
Now, these positive regulatory measures have been put in place, bitcoin can thrive in Philippines. Taking into account the face of bank account problem almost every bitcoin startups, these new measures can alleviate this problem. In the next few years, the development of the bitcoin ecosystem in Philippines may be very interesting, let us wait and see.