Government to Develop Cryptocurrency Regulations

kingkats0803

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Quote from: alyssa85 on February 07, 2018, 11:17:39 AM

Quote from: marydale on February 07, 2018, 07:54:03 AM

The Philippines' Security and Exchange Commission noted that it is currently developing a regulatory framework designed to govern cryptocurrency transactions.
https://news.bitcoin.com/106900-2/

How about in your country?

It's especially good news for the Phillipines because they receive so much money through remittances. Western Union and others charge a fortune for remitting money. It would be easier for the Phillipines to allow it's citizens to open accounts on a phillipines exchange, and then their relatives can just send them coins to their exchange address which they can then sell on the exchange for local currency.

Yeps! I agree. Philippines is one of those countries with the most overseas workers and remittance centers helped them a lot in sending money home, and at the same time profits a fortune from it.
SO yes, Philippines will benefit a great deal with the development of cryptocurrency regulatory framework.

alyssa85

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Quote from: marydale on February 07, 2018, 07:54:03 AM

The Philippines' Security and Exchange Commission noted that it is currently developing a regulatory framework designed to govern cryptocurrency transactions.
https://news.bitcoin.com/106900-2/

How about in your country?

It's especially good news for the Phillipines because they receive so much money through remittances. Western Union and others charge a fortune for remitting money. It would be easier for the Phillipines to allow it's citizens to open accounts on a phillipines exchange, and then their relatives can just send them coins to their exchange address which they can then sell on the exchange for local currency.

tienigarazz

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Activity: 253

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Thanks to our goverment, they really see the importance of crytocurrency.
I hope it is the start of something good, more people will become attracted in bitcoin because of this. And i also hope that someday or in the near future all countries will see how important is cryptocurrency is and i also hope they will start to accept it soon.

jona

member

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It seems all government want to have their way into the Cryptocurrency,when this regulations are been establish you will find out that they are only regulations they will give them and edge to have their own part in the Cryptocurrency,such as heavy taxes on bitcoin holders.

Haynes

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Quote from: marydale on February 07, 2018, 07:54:03 AM

The Philippines' Security and Exchange Commission noted that it is currently developing a regulatory framework designed to govern cryptocurrency transactions.
https://news.bitcoin.com/106900-2/

How about in your country?

woww, that's so amazing.
I hope it can be followed by my country.
currently bitcoin is still a mystery, because the existence of bitcoin in my country, can be said pseudo. we can trade but bitcoin still not yet legalized here.

Baimovic

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maybe some sort of regulation or rule about their national economic, and that's very good.

all the positive things that some parties do to bitcoin, then it will have a good effect on bitcoin value as well as the crypto world.

for my country, it is very far to think about the regulation of bitcoin like filippines, because legalize bitcoin alone is very difficult.

localcrypto

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Most of the govt are in preparations of regulating crypto industry and tax it and regulate it for better future good move

Jannalsieh

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Quote from: charlotte04 on February 07, 2018, 08:09:12 AM

Quote from: marydale on February 07, 2018, 07:54:03 AM

The Philippines' Security and Exchange Commission noted that it is currently developing a regulatory framework designed to govern cryptocurrency transactions.
https://news.bitcoin.com/106900-2/

How about in your country?

Well, our government here in the Philippines only registered our current exchange. There are no news about regulation yet.

Of course regulations are yet to be put in place, since they just noted that they are "currently developing a regulatory framework"
But this is nonetheless, a pretty good start than doing nothing at all!

Laurayaki

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Quote from: Chris314 on February 07, 2018, 07:57:28 AM

The same here in France, government named a former bank manager to study how to regulate cryptocurrencies activities in the country. Idea is not to ban them, but to be sure everyone who trade crypto are paying taxes and don't use crypto for illegal activities.

I see that, it's good for use

Kemarit

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Quote from: kingkats0803 on February 07, 2018, 08:05:22 AM

This is great news for Philippines and France! Maybe in the next 2 or 3 years crypto will have it's space in all bank platforms and exchange will be easy.

However, there is also this bad news form the world central banker in this link https://news.bitcoin.com/central-banker-to-central-banks-bitcoin-is-a-bubble-ponzi-and-disaster/
I can tell him now that our government, Philippines, is not listening to him! hahah

Philippines is very friendly to crypto as far as I know, then have been applications to have 2 or more exchanges soon to open but we haven't heard any news yet. We have to remember that the country has one of the highest remittances in the world takes to their OFW (Oversees Filipino Workers), so I don't see the government making a U-turn as far as crypto is concern because remittances alone netted billions to the government. As for the Central Banks globally conniving to put a universal regulations, I doubt that they can get support. Each government should have its own crypto regulations, IMHO.

charlotte04

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Quote from: marydale on February 07, 2018, 07:54:03 AM

The Philippines' Security and Exchange Commission noted that it is currently developing a regulatory framework designed to govern cryptocurrency transactions.
https://news.bitcoin.com/106900-2/

How about in your country?

Well, our government here in the Philippines only registered our current exchange. There are no news about regulation yet.

kingkats0803

newbie

Activity: 112

Merit: 0

This is great news for Philippines and France! Maybe in the next 2 or 3 years crypto will have it's space in all bank platforms and exchange will be easy.

However, there is also this bad news form the world central banker in this link https://news.bitcoin.com/central-banker-to-central-banks-bitcoin-is-a-bubble-ponzi-and-disaster/
I can tell him now that our government, Philippines, is not listening to him! hahah

raniadaling

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Wohooooo.. Philippines Government really is recognizing the existence and importance of cryptocurrency.
Digital asset holders will surely have a good future in the Philippines!

Chris314

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The same here in France, government named a former bank manager to study how to regulate cryptocurrencies activities in the country. Idea is not to ban them, but to be sure everyone who trade crypto are paying taxes and don't use crypto for illegal activities.

marydale

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Activity: 83

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Equitybase

The Philippines' Security and Exchange Commission noted that it is currently developing a regulatory framework designed to govern cryptocurrency transactions.
https://news.bitcoin.com/106900-2/

How about in your country?

Topic: Government to Develop Cryptocurrency Regulations (Read 190 times)