Topic: Firm aims to introduce bitcoin to PH - page 2. (Read 337 times)
I hope the government is going to adopt as this is the major ways cryptocurrencies can advance. We are not going to see many countries accepting bitcoin as a major currencies but I think there are ready to used it as stocks or securities as far as it will bring tax for them.
Hello Guys! Firms is going to introduce Bitcoin on our country and It will helps to improve Bitcoin users and holders.
A JAPANESE investor has partnered with a Filipino capitalist to form a company that will introduce bitcoin to Filipinos. Takanori Okuno and Emmanuel Roa Duterte formed Japhil Global Coins Corp. (J-PGC) and will set up headquarters in Cebu. J-PGC president Duterte said they aim to introduce the virtual currency to Filipinos so they can take advantage of its uses such as in remitting money, investment and cashless payment. The company, however, is still waiting for their Securities and Exchange Commission (SEC) papers and license from the Bangko Sentral ng Pilipinas (BSP). According to BSP, a virtual currency (VC) refers to a type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.It also issued Circular 944, which required the VC providers to be under their watch. It recognizes that VC systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.
The BSP also said it does not intend to support any VC, such as bitcoin, as a currency since it is neither issued nor guaranteed by BSP nor backed by any commodity. Rather, it said, it aims to regulate VCs when used for delivery of financial services, particularly for payments and remittances, which have material impact on anti-money laundering operations and combating the financing of terrorism, as well as ensuring consumer protection and financial stability. People can buy and sell bitcoins by tapping dealers or brokers or going to bitcoin exchanges. Takanori said they see the Philippines as an ideal market for bitcoin because of its growing population, technologically-savvy citizens, huge remittances market and high population without access to bank services. “We chose the Philippines as our center of business following the long-term good relationship between our countries. The Philippine economy is also growing quickly,” said Takanori, adding that they will focus on helping low-income Filipinos participate in bitcoin exchanges. “We are looking forward to more collaborations here in the Philippines,” said Takanori, the director of J-PGC. The Japanese investor also assured Filipinos that bitcoin transactions are protected by blockchain technology. The company also has a strong connection, with 19 countries around the world. Monthly transactions in the Philippines involving mostly bitcoin averaged $8.8 million in the first half of 2017, from only $2 million in 2015 and about $6 million in 2016, data from the BSP showed. Takanori added that the bitcoin exchange is just the initial entry of the company, as it plans to establish more services under the virtual currency exchange, along with other big-ticket corporate social responsibility programs. (KOC)
Source: www.sunstar.com.ph/cebu/business/2018/01/12/firm-aims-introduce-bitcoin-ph-583645
Phillippines adoption to cryptocurrencies were very crucial as users were growing every single day.We highly appreciate if the governments could put rules on cryptocurrencies existence and not to take part from it.They can contribute cryptos to be well known in a country and if they put rules on it.It will probably avoid illegal activities and prevent from fraudility. A JAPANESE investor has partnered with a Filipino capitalist to form a company that will introduce bitcoin to Filipinos. Takanori Okuno and Emmanuel Roa Duterte formed Japhil Global Coins Corp. (J-PGC) and will set up headquarters in Cebu. J-PGC president Duterte said they aim to introduce the virtual currency to Filipinos so they can take advantage of its uses such as in remitting money, investment and cashless payment. The company, however, is still waiting for their Securities and Exchange Commission (SEC) papers and license from the Bangko Sentral ng Pilipinas (BSP). According to BSP, a virtual currency (VC) refers to a type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.It also issued Circular 944, which required the VC providers to be under their watch. It recognizes that VC systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.
The BSP also said it does not intend to support any VC, such as bitcoin, as a currency since it is neither issued nor guaranteed by BSP nor backed by any commodity. Rather, it said, it aims to regulate VCs when used for delivery of financial services, particularly for payments and remittances, which have material impact on anti-money laundering operations and combating the financing of terrorism, as well as ensuring consumer protection and financial stability. People can buy and sell bitcoins by tapping dealers or brokers or going to bitcoin exchanges. Takanori said they see the Philippines as an ideal market for bitcoin because of its growing population, technologically-savvy citizens, huge remittances market and high population without access to bank services. “We chose the Philippines as our center of business following the long-term good relationship between our countries. The Philippine economy is also growing quickly,” said Takanori, adding that they will focus on helping low-income Filipinos participate in bitcoin exchanges. “We are looking forward to more collaborations here in the Philippines,” said Takanori, the director of J-PGC. The Japanese investor also assured Filipinos that bitcoin transactions are protected by blockchain technology. The company also has a strong connection, with 19 countries around the world. Monthly transactions in the Philippines involving mostly bitcoin averaged $8.8 million in the first half of 2017, from only $2 million in 2015 and about $6 million in 2016, data from the BSP showed. Takanori added that the bitcoin exchange is just the initial entry of the company, as it plans to establish more services under the virtual currency exchange, along with other big-ticket corporate social responsibility programs. (KOC)
Source: www.sunstar.com.ph/cebu/business/2018/01/12/firm-aims-introduce-bitcoin-ph-583645
I really don't think that btc will be possible to do strong influence on some countries economics, even if they legalize it through the time.
What might be the reason why the government agreed with VC, though they kniw the potential risk that it brings most specially in terrorism and other criminal act.
On the otherhand I am mostly excited by the sentences that they let go
I just hope that it will went well.
On the otherhand I am mostly excited by the sentences that they let go
Quote
as it plans to establish more services under the virtual currency exchange, along with other big-ticket corporate social responsibility programs
I just hope that it will went well.
That being said, I hope that the support in the Philippines to cryptocurrencies will help the price of bitcoin to recover at some point. There seems to be a lot of huge potential investors in that country and they should expect that this move by the Japanese will help their economical state positively.
Let's just see how the BSP will regulate the use of cryptocurrencies.
Let's just see how the BSP will regulate the use of cryptocurrencies.
I am optimistic with thia move that it can help the philippine bitcoin userbase.Philippones is one of the active countries on cryptocurrencies in asia.This is a good move hoping the Philippine government can craft better regulation on this new financial tevhnologies.
That being said, I hope that the support in the Philippines to cryptocurrencies will help the price of bitcoin to recover at some point. There seems to be a lot of huge potential investors in that country and they should expect that this move by the Japanese will help their economical state positively.
Let's just see how the BSP will regulate the use of cryptocurrencies.
Let's just see how the BSP will regulate the use of cryptocurrencies.
Hello Guys! Firms is going to introduce Bitcoin on our country and It will helps to improve Bitcoin users and holders.
A JAPANESE investor has partnered with a Filipino capitalist to form a company that will introduce bitcoin to Filipinos. Takanori Okuno and Emmanuel Roa Duterte formed Japhil Global Coins Corp. (J-PGC) and will set up headquarters in Cebu. J-PGC president Duterte said they aim to introduce the virtual currency to Filipinos so they can take advantage of its uses such as in remitting money, investment and cashless payment. The company, however, is still waiting for their Securities and Exchange Commission (SEC) papers and license from the Bangko Sentral ng Pilipinas (BSP). According to BSP, a virtual currency (VC) refers to a type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.It also issued Circular 944, which required the VC providers to be under their watch. It recognizes that VC systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.
The BSP also said it does not intend to support any VC, such as bitcoin, as a currency since it is neither issued nor guaranteed by BSP nor backed by any commodity. Rather, it said, it aims to regulate VCs when used for delivery of financial services, particularly for payments and remittances, which have material impact on anti-money laundering operations and combating the financing of terrorism, as well as ensuring consumer protection and financial stability. People can buy and sell bitcoins by tapping dealers or brokers or going to bitcoin exchanges. Takanori said they see the Philippines as an ideal market for bitcoin because of its growing population, technologically-savvy citizens, huge remittances market and high population without access to bank services. “We chose the Philippines as our center of business following the long-term good relationship between our countries. The Philippine economy is also growing quickly,” said Takanori, adding that they will focus on helping low-income Filipinos participate in bitcoin exchanges. “We are looking forward to more collaborations here in the Philippines,” said Takanori, the director of J-PGC. The Japanese investor also assured Filipinos that bitcoin transactions are protected by blockchain technology. The company also has a strong connection, with 19 countries around the world. Monthly transactions in the Philippines involving mostly bitcoin averaged $8.8 million in the first half of 2017, from only $2 million in 2015 and about $6 million in 2016, data from the BSP showed. Takanori added that the bitcoin exchange is just the initial entry of the company, as it plans to establish more services under the virtual currency exchange, along with other big-ticket corporate social responsibility programs. (KOC)
Source: www.sunstar.com.ph/cebu/business/2018/01/12/firm-aims-introduce-bitcoin-ph-583645
A JAPANESE investor has partnered with a Filipino capitalist to form a company that will introduce bitcoin to Filipinos. Takanori Okuno and Emmanuel Roa Duterte formed Japhil Global Coins Corp. (J-PGC) and will set up headquarters in Cebu. J-PGC president Duterte said they aim to introduce the virtual currency to Filipinos so they can take advantage of its uses such as in remitting money, investment and cashless payment. The company, however, is still waiting for their Securities and Exchange Commission (SEC) papers and license from the Bangko Sentral ng Pilipinas (BSP). According to BSP, a virtual currency (VC) refers to a type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.It also issued Circular 944, which required the VC providers to be under their watch. It recognizes that VC systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.
The BSP also said it does not intend to support any VC, such as bitcoin, as a currency since it is neither issued nor guaranteed by BSP nor backed by any commodity. Rather, it said, it aims to regulate VCs when used for delivery of financial services, particularly for payments and remittances, which have material impact on anti-money laundering operations and combating the financing of terrorism, as well as ensuring consumer protection and financial stability. People can buy and sell bitcoins by tapping dealers or brokers or going to bitcoin exchanges. Takanori said they see the Philippines as an ideal market for bitcoin because of its growing population, technologically-savvy citizens, huge remittances market and high population without access to bank services. “We chose the Philippines as our center of business following the long-term good relationship between our countries. The Philippine economy is also growing quickly,” said Takanori, adding that they will focus on helping low-income Filipinos participate in bitcoin exchanges. “We are looking forward to more collaborations here in the Philippines,” said Takanori, the director of J-PGC. The Japanese investor also assured Filipinos that bitcoin transactions are protected by blockchain technology. The company also has a strong connection, with 19 countries around the world. Monthly transactions in the Philippines involving mostly bitcoin averaged $8.8 million in the first half of 2017, from only $2 million in 2015 and about $6 million in 2016, data from the BSP showed. Takanori added that the bitcoin exchange is just the initial entry of the company, as it plans to establish more services under the virtual currency exchange, along with other big-ticket corporate social responsibility programs. (KOC)
Source: www.sunstar.com.ph/cebu/business/2018/01/12/firm-aims-introduce-bitcoin-ph-583645
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