Topic: Philippines as the first country in asia to regulate and accept cryptocurrency.. - page 3. (Read 996 times)
July 04, 2018, 05:14:32 PM
I’m guessing that with these regulations, the amount that one would be able to cash in and cash out would be limited plus there will be taxes for that. Due to AML policies, those illegal practitioners are now caught in some trouble. However, for those who just profit exponentially (I know some Filipinos who are just traders yet are able to gain thousandfold thus making them millionares in a legitimate way but would be suspicious to the AMLC) will now have a hard time. Citizens may find a way around this.
July 04, 2018, 04:48:35 PM
Well if this is true, this might just lead others to do as well if they see that a country such as the Philippines would eventually be successful with cryptocurrencies. It is more like an experimental staging where everyone would look at it, if it really would survive or not. The philippines though is always active in looking for scammers and deal with them successfully. Many had been caught now.
July 04, 2018, 04:35:09 PM
Finally Philipines legalize Bitcoin! Previously, the news of Bitcoin in Philipines was very bad. but now Philipines can form a rule to set the crypto in the country. all forms of Bitcoin crime have been thought of the solution, I think this is a good start for Philipines.
July 04, 2018, 03:21:59 PM
This is very hilarious and heart lifting. I am always glad reading such positive news compare to the FUD been passed around by so many. It is just a matter of time and the world will appreciate Bitcoin for what it is.
I am proud to tell all the members here my country the Philippines is the first to adapt and accept cryptocurrency being regulated by the government. As we all know that Philippines is greatly influenced by USA and that see something that USA has done on the cryptocurrency and quickly embrace cryptocurrency. The idea is to give license for local exchange to operate and in return clients doing crypto and fiat exchange should do one time intensive KYC that inludes linking facebook and collecting I.D even asking for billing address as to get a good cash in and cash out process. THe intensified KYC will determine the amount that you will going to exchange. Aside from that those ICO project should be registered in AMLA a government department concern on money laundering law. So this will cater and regulate possible abusive form in the use of cryptocurrency.
July 04, 2018, 02:23:04 PM
Great news indeed. I this acceptance by regulating it is much better than ban. So I am happy at this news and hope more countries will learn from this and embrace cryptocurrency just like Philippine. Best of luck for crypto in Philippine. Hope it will do great their too.
July 04, 2018, 01:22:54 PM
Let me show you the Philippines is the first country in Asia to adjust and accept the cryptocurrency .. you can take the article or the author of the article. Because I also read that the new Thai is the country that accepts cryptocurrency rather than the Philippines
July 04, 2018, 12:36:32 PM
I am proud to tell all the members here my country the Philippines is the first to adapt and accept cryptocurrency being regulated by the government. As we all know that Philippines is greatly influenced by USA and that see something that USA has done on the cryptocurrency and quickly embrace cryptocurrency. The idea is to give license for local exchange to operate and in return clients doing crypto and fiat exchange should do one time intensive KYC that inludes linking facebook and collecting I.D even asking for billing address as to get a good cash in and cash out process. THe intensified KYC will determine the amount that you will going to exchange. Aside from that those ICO project should be registered in AMLA a government department concern on money laundering law. So this will cater and regulate possible abusive form in the use of cryptocurrency.
Well, I think it is not only good for the Phillipines or the Filipino people but also good for the whole Bitcoin and cryptocurrency as a whole. I can see that local exchange supported Bitcoin and Ethereum and everyone can use it to buy game credits, prepaid loads, pay bills, buying goods online and many more. Cryptocurrency is getting bigger and the local Bitcoin community will be increasing too. I think you need to revise the title OP because it is misleading as I think Japan is the first country to regulate, accept and legalize Bitcoin in Asia. July 04, 2018, 11:56:37 AM
oh wow! the nation of Philippines have really made a bold step which is in the right direction. Accepting and making cryptocurrencies legal in one country would broaden the stream of your investments that is in both fiat and currently cryptocurrencies. Some nations have also made good steps by implementing the use of bitcoin ATM machines in their country for instance Kenya and Zimbabwe.
July 04, 2018, 11:32:30 AM
Well we need a link to an official news of what you ve been said in the OP, and im pretty sure Japan is the first in Asia. You may want to make it more specific like maybe South East Asia.
And little did the Filipinos know that regulation means they will have tax for cryptocurrency. Let us see if they will be happy with that in their country, lol.
And little did the Filipinos know that regulation means they will have tax for cryptocurrency. Let us see if they will be happy with that in their country, lol.
July 04, 2018, 11:31:34 AM
I am proud to tell all the members here my country the Philippines is the first to adapt and accept cryptocurrency being regulated by the government. As we all know that Philippines is greatly influenced by USA and that see something that USA has done on the cryptocurrency and quickly embrace cryptocurrency. The idea is to give license for local exchange to operate and in return clients doing crypto and fiat exchange should do one time intensive KYC that inludes linking facebook and collecting I.D even asking for billing address as to get a good cash in and cash out process. THe intensified KYC will determine the amount that you will going to exchange. Aside from that those ICO project should be registered in AMLA a government department concern on money laundering law. So this will cater and regulate possible abusive form in the use of cryptocurrency.
This is great news! I am a proud citizen of the Philippines and I'm proud of it. Hopefully, the acceptance of our countrymen in bitcoin will grow. And that would also be used by entrepreneurs as paying their products. This is a huge demand for bitcoin because many people who buy it can result in higher rates of bitcoins. 
July 04, 2018, 11:27:10 AM
Oh My Gawd! Does that mean the shit posting population on the forum is going to increase exponentially? Imagine the situation now and compare it to what happens once the entire country wants to join bounty and signature campaigns.
Yes, that means your job specification here in fending off spammers even as a campaign manager has doubled 
You deserve all the job!Honestly, this piece of development is a good one for the poor Filipino community here. They all should be in a glee.
Jokes apart, it's a good news but it would be sad for the bounty hunters to pay taxes. You haven't mentioned the tax part which I believe will be applicable once it's regulated.
Ugh! Please don't spoil the reggae with that tax reminder. Let the Filipinos enjoy their moment of joy. July 04, 2018, 11:23:34 AM
We will accept cryptocurrency because it will built our future country and it will help improve our economy
July 04, 2018, 11:18:04 AM
It is true that cryptocurrency is slowly being embraced in the Philippines. But your subject is misleading. What I understand is that government agencies are still studying on how to legalize or regulate cryptocurrency.
I'm not sure where in Asia cryptocurrency is FIRST to be regulated, I'm thinking Japan.
Anyways, first or not. It is very welcoming that Philippines and other Asian countries are considering to legalize or regulate cryptocurreny for public use.
I'm not sure where in Asia cryptocurrency is FIRST to be regulated, I'm thinking Japan.
Anyways, first or not. It is very welcoming that Philippines and other Asian countries are considering to legalize or regulate cryptocurreny for public use.
July 04, 2018, 11:14:16 AM
The Securities and Exchange Commission (SEC) Securities and Exchange Commission (SEC) has announced that they are considering measures to legalize the use of digital currency in the country by classifying them as securities
July 04, 2018, 11:10:07 AM
I am proud to say that I am also from the Philippines and yes, everything is fine here when we say bitcoin because the Philippine government acknowledges it. Even banks are planning to embrace bitcoin. Lucky enough to earn from it. I hope that we will still have a lot of time to earn while it does not have tax fee yet.
I am proud to be Filipino and I am so thankful to government to accepted bitcoin here in the Philippines cause I know lot's of bitcoiner member here are happy now, and I think there are so many Filipino are interested to join in investing bitcoin and also the banks are planning to embrace bitcoin and tax free. July 04, 2018, 11:08:48 AM
I believe that its Japan whos the first asian country whos adapted and accept bitcoin as a legitimate currency
So maybe OP missed this part
But this is one good news as thailand welcome cryptocurrency in their country too,meaning this a continues progress for crypto community conquering the bannings of others country's
So maybe OP missed this part
But this is one good news as thailand welcome cryptocurrency in their country too,meaning this a continues progress for crypto community conquering the bannings of others country's
July 04, 2018, 10:54:04 AM
I must say that's a great new! People are day by day adopting crypto currency and the popularity is increasing gradually. I hope one day more different countries in Asia will accept crypto very soon.
Yes, great news cause more country now accepted bitcoin and continues increasing there popularity and followers. I know there is lot's of bitcoiners in the Philippines and I think there were so happy because of that, and I hope all countries are accepted bitcoin. July 04, 2018, 10:41:17 AM
This is a great news I am glad for the crypto lovers of Philippines. I wish the same thing happens here in INDIA our situation is not at all good. From today the banks are gonna disable the accounts attached with crypto. hoping for some relief soon.
July 04, 2018, 10:38:48 AM
Very good news for Philippines. I know a lot of people there loves crypto and some people uses bounties and airdrop as some sort of work. I'm glad it's been accepted there and crypto will help some people in their lifes 
July 04, 2018, 10:35:51 AM
Oh My Gawd! Does that mean the shit posting population on the forum is going to increase exponentially? Imagine the situation now and compare it to what happens once the entire country wants to join bounty and signature campaigns.
Jokes apart, it's a good news but it would be sad for the bounty hunters to pay taxes. You haven't mentioned the tax part which I believe will be applicable once it's regulated.
LOL!!Jokes apart, it's a good news but it would be sad for the bounty hunters to pay taxes. You haven't mentioned the tax part which I believe will be applicable once it's regulated.
Well I was about to say the same reading the OP, the tax implication is very much inevitable from the regulation part that the country has seen. But that is secondary aspect until it is being brought into action. The best part right now is that this move is going to be greatly affecting many other surrounding nations. The decision is a good in light of the current circumstances. The regulation is sure to bring some revolutionary changes in the way market will operate in the coming times.
If true, a step in the right direction. More countries need to do this and give a solid base to cryptocurrency. Without this regularisation, a lot of scam fraud will he committed to the detriment of the crypto world.
Yes that is the best part about the regulation, that it would reduce the number of scams or frauds that may are commited. Jump to: