Bankgko Sentral ng Pilipinas (BSP) is officially regulating local Philippine Bitcoin exchanges as remittance companies and recognizing Bitcoin as a legitimate payment method. Espenilla emphasized the exponential growth of Bitcoin within the country, stating that monthly Bitcoin volumes increased from $1 mln to $6 mln a month in a year. For the long-term growth of the Bitcoin industry in the Philippines and mainstream adoption, the transparent and clarified regulatory framework for Bitcoin users and companies will ultimately be beneficial. https://cointelegraph.com/news/the-philippines-officially-legitimize-bitcoin-as-payment-method
