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The Philippines made international headlines recently when it created a new category of transport: Transportation Network Vehicle Service (TNVS).
This designation allows services like Uber to operate outside of the legal grey area it had been stuck in since late last year and moves it toward even wider acceptance among Filipinos.
While all Filipinos should celebrate this recognition, it should matter even more to those who want to see bitcoin gain mainstream adoption in the country. The TNVS ruling provides a case study, if not a precise model, for how the cryptocurrency might come to be regulated in the Philippines, and in turn, reach more Filipinos.
This designation allows services like Uber to operate outside of the legal grey area it had been stuck in since late last year and moves it toward even wider acceptance among Filipinos.
While all Filipinos should celebrate this recognition, it should matter even more to those who want to see bitcoin gain mainstream adoption in the country. The TNVS ruling provides a case study, if not a precise model, for how the cryptocurrency might come to be regulated in the Philippines, and in turn, reach more Filipinos.
Full story: http://www.coindesk.com/bitcoin-supporters-should-follow-uber-playbook/