Philippines central bank mull regulations on bitcoin use

Regulation | December 26, 2016 By:

The Philippines central bank is considering introducing digital currency regulations to protect consumers.

Nestor Espenilla, deputy governor at the Bangko Sentral ng Pilipinas (BSP), told Bloomberg that the current volume of transactions involving digital currencies in the country is “rising very quickly” since they are cheaper and quicker compared to regular remittance channels.