The Philippine Central Bank gives the first license to exchange electronic currency

The Central Bank of the Philippines has reportedly licensed two digital currency exchanges. The Philippine Star daily said the developments took place on Sunday, citing statements by Central Bank President Nestor España Jr.. The Philippine "Bangko Sentral ng" platform first released its laws for local exchanges in February, seeking to establish the country's fledgling e-currency world. However, the central bank has shown little interest in potential applicants, according to one official who commented on the local media in late July.

 However, Espinela, speaking at the weekend's Financial Technology Event, noted that the central bank is already seeking to bring exchange platforms under its regulatory guidance. Where he told the audience:

"We see a rapid increase in this trend, and although the beginning was small, it continues to grow - and that's why we decide to apply for entry."

According to the news source, Espinela has given some figures about the local Bitcoin trade, saying exchange platforms now have up to $ 6 million in volume per month - three times the monthly turnover of $ 2 million last year. "We are moving to organize these platforms," he said.