Topic: Philippines Legalizes Cryptocurrency Exchanges in Economic Zone - page 5. (Read 770 times)
Wow this is another big news of cryptocurrency in the Philippines. This news shows the greatest future of crypto currency around the globe, aiming success is not easy, but hearing some good news like this is a kind of a one step of a giant towards the goal. And I believe that Philippines will be one of the crypto helper to deliver what it should need to be done.
This would be a great opportunity for our country (Philippines) to embrace the innovation of technology but they need to educate the people the real use cases of Cryptocurrency so they would avoid investing on scam ICO's and Ponzi schemes.
Wow, this is really an excellent news for all of Philippines general people who are connected with this Platform. Government Understood slowly country by country it will spread and all over the world they can Accept the crypto policy. There has been a good sign. General public figure Get the opportunity of the job and government will be a benefit.
Well this is another good news for Philippines. But i think Philippines will be more strict on implementing for this, so that it will not become a haven for scammers too. Cryptocurrency is a pioneering and this blockchain technology is new that can be exploited for fraudulent purpose.
It is a welcome news to the crypto world and most probably a music to the ear for those who are involve in cryptocurrency specially in the Philippines. you are right, we should be cautious enough for these companies and should monitor them always to avoid doing scams. The Philippines is a well known country to be corrupt in the past administration and i do hope i already changed now. 
hopefully this good news can be considered and in the example by other countries especially in asia so that more countries dibenua asia can legalize bitcoin like state of philippines
Well this is another good news for Philippines. But i think Philippines will be more strict on implementing for this, so that it will not become a haven for scammers too. Cryptocurrency is a pioneering and this blockchain technology is new that can be exploited for fraudulent purpose.
I think cryptocurrencies are already legal in here in Philippines although our media says that cryptocurrencies especially bitcoin is a bad thing. They only said it used in illegals. We are so disappointed cause our media was so brainwashing. Theres a lot of fake news here in Philippines. Our president working hard to solve that issue but i hope that bitcoin will regain its name. 
Definitely good news as the country is embracing the change that cryptocurrencies bring. Regulation would be good as it established trust for those people who are skeptic about it and it would encouraged more businesses to consider cryptocurrencies as payment option. I hope that they will take advantage of blockchain technology in other industries and maybe in government activities like election because there is too much manipulation in it so doing it using blockchain technology would eliminate the doubts of the people as it is transparent and no election protest will happen.
Seems that the Philippines are forward thinking. I wonder if Duerte had anything to do with this.
I first read this article in our groupchat of Filipino Traders Chat on Facebook, and everyone of us was happy about this because it just shows that many Filipinos believe in the future of Cryptocurrency and their impact in our Economic Zone. We are lucky because our government is open-minded about the new and bigger opportunities that awaits if they allow and adopt Cryptocurrency in the country. I am very excited of the future knowing that something big awaits all of us so it is the right time to invest and consider Cryptocurrency.
This is just the beginning on how Philippines will open the country for the innovation of technology. I am glad that the present administration are not blind to the effect of cryptocurrency in economy. The good thing here is that, even there are numerous scam news in our country, the government did not ban the cryptocurrency instead, they slowly legalize the cryptocurrency.
I hope that the legalization for cryptocurrency will continue and all of bitcoin scam will eliminate in our country. Scammers are the one who destroy the reputation of bitcoin.
I hope that the legalization for cryptocurrency will continue and all of bitcoin scam will eliminate in our country. Scammers are the one who destroy the reputation of bitcoin.
Well, that's a good news! Even though the volume from Philippines is not that significant, but I believe it will certainly increase after this move. However, I have a question here, are those exchanges will allow investments from outside Philippines? I am not talking about the fiat to crypto exchange or vice verse, just crypto to crypto exchange I am asking. I will be glad if anyone can answer this. Because that can be the unique selling points for those exchanges. 10 exchanges can't survive along with the volumes of Philippines. They need to have the permission to operate worldwide.
Oh, since I heard this good news, I wish to live in Philippines even more. Considerably there will probably have some more strict on this decision. Yep, definitely it brings them much confusion, one of the most trouble they have to face is scammers. I think that if Philippines legalize bitcoin, it will definitely accept bitcoin both in and out of the country. I hope that from the allowance of bitcoin in Philippines, there will have many other countries legalize bitcoin. If this may occur, the bitcoin value can increase significantly, that makes all of us have chance to use bitcoin.
wow very interesting! the presence of bitcoin began legalized in various countries, especially the Philippines. yes, crytocurrency is a digital currency is indeed nowadays has been completely digital. Governance should digitize various aspects of society and especially in the financial aspect. Because one day we think we do not use real money but with virtual money
Yes. I am reading some articles about our country and in about the cryptocurrency well if this will happen the Future of Cryptocurrencies in the Philippines will be a good looking and not as badinfluence in online earners and also for a fastest communication.
Wow! If this holds to be true, then the potential to gain investors or exchanges will have positive effects on the economy. However, it will not be void of challenges during its first few months (or probably years) of implementation. For one, regulation or centralization. It would probably mean that transactions will be monitored which somehow opens up trader information and such. At any rate, I personally think that this is one good step towards a potentially bright future for investors and exchange companies. Let's how this unfolds.
If this is true, then honestly it's only advantageous to the country's own economy by welcoming a growing field of crypto in my opinion. A lot of countries are pressing pretty strict regulations or even bans on bitcoin and other cryptos, which in my opinion, makes no sense.
Especially exchanges, crypto exchanges are currently getting pressured to shut down everywhere due to regulatory concerns and pressures. If the phillipines can create an environment where these exchanges can operate without concerns of regulations, it'll just attract a lot more crypto businesses or startups to their country, which will only benefit them.
But this hasn't started yet, we can only take their words for it, and there are no guarantees that their outlook on crypto doesn't change in the future.
Especially exchanges, crypto exchanges are currently getting pressured to shut down everywhere due to regulatory concerns and pressures. If the phillipines can create an environment where these exchanges can operate without concerns of regulations, it'll just attract a lot more crypto businesses or startups to their country, which will only benefit them.
But this hasn't started yet, we can only take their words for it, and there are no guarantees that their outlook on crypto doesn't change in the future.
This is good news not only to the Philippines but also to cryptoworld as a whole. This will welcome developing countries to invest and bring business to the Philippines and in turn will promote crypto in the entire country. I hope many other countries follow the example of the Philippines.
Sounds good for the Filipino people as the governments move is now in favor of the cryptocurrency enthusiasts and in my own opinion on this is that there is a huge benefits between the two party namely, the people and the country as taxes may help improve the econmy as I know that more and more investors and business minded people that is related to crypto to pour some as they can feel safer now as government wants to ensure that they are in the right place in that economic zone. Is this a step to further go deeper into crypto just like what Japan did?
The Philippine government is welcoming nearly a dozen cryptocurrency companies to operate in a special tax-friendly economic zone situated in close proximity to a number of neighboring countries.
The government aims to woo cryptocurrency companies to operate out of the economic zone with tax benefits to help generate employment opportunities locally, Cagayan Economic Zone Authority chief Raul Lambino told Reuters.
The companies will also be allowed to operate exchanges, offer initial coin offerings (ICOs) and engage in cryptocurrency mining within the zone
There is a caveat, however. Any exchange of fiat money into cryptocurrencies or vice-versa should be conducted beyond Philippines’ borders to avoid infringing the country’s laws.
To aid in bringing jobs to those companies, the economic zone’s regulator is also considering establishing a new financial technology university in the economic zone with a specific focus on blockchain technology, Lambino added.
Regulating cryptocurrencies and providing a tax-friendly system for trading, mining and investing in ICOs is a very wise decision. Especially, for such a state as Phillippines, where people are mainly very poor. However, I don't understand this point acout fiat and cryptos. How are people supposed to do it beyond the borders of the country? If there was a possibility to spend cryptos in, say, shops, then it would make sense, but otherwise it makes all other information nearly meaningless, since people need money for life and won't be able to use it for this. The government aims to woo cryptocurrency companies to operate out of the economic zone with tax benefits to help generate employment opportunities locally, Cagayan Economic Zone Authority chief Raul Lambino told Reuters.
The companies will also be allowed to operate exchanges, offer initial coin offerings (ICOs) and engage in cryptocurrency mining within the zone
There is a caveat, however. Any exchange of fiat money into cryptocurrencies or vice-versa should be conducted beyond Philippines’ borders to avoid infringing the country’s laws.
To aid in bringing jobs to those companies, the economic zone’s regulator is also considering establishing a new financial technology university in the economic zone with a specific focus on blockchain technology, Lambino added.
I read this news and I confess that I was not happy, I would be happier if they legalized bitcoin
with this will not have fresh money entering the markets of bitcoin and altcoins, why they do not legalize bitcoin and allow people to buy bitcoin using their country's fiat? if they really want to show they support Cryptocurrencies, do the same thing that japan did
The truth is that there are very few countries that accept people to buy bitcoin directly from their bank account using their fiat. we need more fresh money entering the markets, we do not need advertising that does not have any weight, we need actions that are beneficial to bitcoin in the short and long term
There is a caveat, however. Any exchange of fiat money into cryptocurrencies or vice-versa should be conducted beyond Philippines’ borders to avoid infringing the country’s laws.
with this will not have fresh money entering the markets of bitcoin and altcoins, why they do not legalize bitcoin and allow people to buy bitcoin using their country's fiat? if they really want to show they support Cryptocurrencies, do the same thing that japan did
It can also kickstart the support and legalization of other countries of cryptocurrencies which can influence the bloom of crypto and a start of a better era, financially speaking.
The truth is that there are very few countries that accept people to buy bitcoin directly from their bank account using their fiat. we need more fresh money entering the markets, we do not need advertising that does not have any weight, we need actions that are beneficial to bitcoin in the short and long term
This is a great news for everyone using cryptocurrencies especially Filipinos. By the support of the government, it will surely signifies the importance of the entity. It can also kickstart the support and legalization of other countries of cryptocurrencies which can influence the bloom of crypto and a start of a better era, financially speaking.
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