Bangko Sentral ng Pilipinas to Regulate Bitcoins

The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) will regulate the bitcoin industry, as it continues to combat money laundering and other terrorist financing schemes. Bitcoin entities now need to register as a money transfer business; failure to do so would eventually result in no bank being allowed to deal with them. Bitcoin volume in the country is still modest, but it has doubled its number to $5-6 million a month…

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