The Philippines: Cautious on Crypto Development

The Philippines Cautious on Crypto Development

Although the Bangko Sentral ng Pilipinas (BSP) expressed that they would support the development of blockchain and its application in the financial industry, the BSP is still cautious with the cryptocurrency market. The deputy of BSP, Diwa Guinigundo has explained that the government is not fully prepared to embrace cryptocurrency and doubt if it could replace fiat currency.

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