Could be more taxes I assumed, Besides local trading exchanges like coins.ph is full KYC/AML compliant already since last year. I'm optimistic by the news but my only concern is corruption. This may end up avenues for corrupt elected officials in the country to pocket more money. I like though what the government is doing, while neighboring Asian countries are very hostile to crypto, Philippines is going on the other direction. Bitcoin growth can be seen in foreseeable future specially if OFW (Oversees-Filipino-Workers) will used Bitcoin as means of remittances or cross border payments. Last year alone, remittances was reported to be around $28 Billion. Imagine the influx of huge money in the market coming from Philippines alone, Bitcoin price could reach new heights.