The Philippines’ Central Bank Has Already Legalized 10 Bitcoin Exchanges

According to local reports, the Bangko Sentral ng Pilipinas (BSP) has approved three crypto exchanges, bringing the total number of approved crypto exchanges to 10.

In recent years, the Philippines has grown into a powerhouse of a market for cryptocurrency businesses primarily due to favorable regulations and the rapid growth of local companies.

Coins.ph, for instance, the biggest crypto exchange in Southeast Asia, is said to have 1 out of 10 adults in the Philippines as users, a statistic that convinced the leading ride-hailing app operator in Indonesia Go Jeb to acquire the company.

Reference: https://www.ccn.com/the-philippines-central-bank-has-already-legalized-10-bitcoin-exchanges

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Author: Neo Anderson

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