Your president, like all other presidents, is using his "anti-drug campaign" or other "campaigns" as a propaganda tool to manipulate all of you to further his agenda.
Plus what are you doing in Bitcoin if you trust politicians? Hahaha.
That's what they want you to think. But the truth is they are not doing anything for you. Look around you, nothing will change.
I find it perplexing that the Bitcoin community and Libertarianism, which has been a popular political movement around here, not taught you anything. Maybe you don't care about what Bitcoin stands for.
what i mean is bitcoin can be also the source of income and earn profit for the country, actually we don't know if the Bank of the Philippines are also investing on Bitcoin right now. Of course the government are doing and searching all the possible ways to earn profit for the country. The Country won't legalize Bitcoin if they will not get anything from it.
What would happen is politicians would tax Bitcoin capital gains for your government to earn profit.
But why aren't they doing it today? If they start using Bitcoin to move money around then what would happen to Swift, and would there be a need to convert to fiat?