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I bought bitcoin at a 7-Eleven in Manila and compared how much BTC costs at Coinbase vs. Coins.ph.

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Bitcoin manila

Postby Daizilkree В» 07.11.2018

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The Philippines is catching up to Japan with a growing number of approved cryptocurrency exchanges. The central bank has green-lighted 10 crypto exchanges so far. In addition, the Cagayan Economic Zone Authority has independently licensed 24 crypto exchanges. The Bangko Sentral ng Pilipinas BSP has approved 10 cryptocurrency exchanges in total, according to the most recent list provided by the central bank.

Three of them were recently added, the Manila Times reported Monday. Melchor T. Plabasan, the officer in charge at the Technology Risk and Innovation Supervision Department of the central bank, said the latest crypto exchange operators authorized were Bexpress Inc.

The most recent list of remittance and transfer companies with money changing or foreign exchange dealing as well as virtual currency exchange service provided by the central bank comprises 10 businesses. Besides the three new additions, the seven others are Betur Inc. Furthermore, the regulator has told news.

Union Bank of the Philippines UBP aka Unionbank, one of the largest banks in the country, recently installed a bitcoin ATM at one of its main branches, with the approval of the central bank and in partnership with Coins.

Last month, the bank announced that this ATM is now operational. When they sell their bitcoin, users will be able to withdraw the money they made in the transaction from the ATM directly.

The BSP issued Memorandum on March 14 reminding banks that operators of cryptocurrency ATMs are considered virtual currency exchanges and must be registered with the bank, as mandated in Circular No.

The bank currently has about branches. Instead of obtaining a license from the central bank, crypto exchanges can obtain offshore licenses from the government-owned Cagayan Economic Zone Authority Ceza which has independently been approving a number of crypto exchanges.

What do you think of the Philippines approving all these crypto exchanges and Unionbank having a bitcoin ATM? Let us know in the comments section below. Need to calculate your bitcoin holdings?

Check our tools section. The Federal Financial Supervisory Authority of Germany, Bafin, has issued guidance to clarify the status of cryptocurrencies and the regulations… read more. Turkish authorities will soon be going after crypto exchanges operating in the country, local media reported. Although the trading platforms… read more.

A student of Austrian Economics, Kevin found Bitcoin in and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Kazilmaran
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