Philippine bank Union Bank is reportedly launching the country’s first two-way cryptocurrency ATM.
The Philippines, officially the Republic of Philippines, is a unitary archipelagic country in Southeast Asia. The Philippines is the 63rd largest country in the world and 12th in terms of population. The Philippines is one of the most ethnically diverse countries and has a large amount of various religious confessions. Philippines had gross domestic product of $348 billion at the end of 2018, making it the 34th largest economy at the time. The economy is largely made up of manufacturing electronic products, transport equipment, petroleum and its products, and agricultural goods. The economy of the Philippines is becoming more and more tech-oriented, even though 30% of the labor force is employed in the agricultural sector. Cryptocurrency in the Philippines is legal due to Circular No. 944 form, which established guidelines for Virtual Currency exchanges on June 2, 2017. The Philippines control over Bitcoin exchanges is performed by the Central Bank of the Philippines.
- Most Respondents File Negative Comments for SEC's Review of VanEck/SolidX Bitcoin ETF
- Proof-of-Stake Cryptocurrencies Have $4 Billion in Staked Funds: Diar
- JPMorgan Chase Exec: Crypto Innovators Will 'Ultimately Have to Use a Bank to Move Funds’
- Digital Asset Holdings Gets Permanent CEO 3 Months After Blythe Masters Leaves
- Major Cryptocurrencies See Slight Gains, Palladium Hits $1,600 for The First Time