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Full credits for this video to BitcoinNews.com who listed the info in this video on an article on their website:
https://bitcoinnews.com/?s=.comWhy%20Crypto%20is%20Booming%20in%20the%20Philippines
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Transcript:
0:00:00 Why Crypto is Booming in the Philippines
0:00:03 This update is brought to you by “CoinCheckup News Updates” and was originally published on “BitcoinNews.com”.
0:00:09 The Philippines is having a moment with cryptocurrency, which largely can be attributed to the country’s own political leadership.
0:00:16 A combination of the Filipino government and the central bank, the Bangko Sentral ng Pilipinas, have a lot to do with the growing pro-Bitcoin sentiment in the Asian country.
0:00:25 Indeed, for the nation’s authorities, cryptocurrency may well prove to be a way to modernize digital payment systems, fitting in well with the schemes already established.
0:00:34 Data shows that Bitcoin’s trading volume on LocalBitcoins has increased significantly, with the predominant turning point back in December 2017 in the heat of the bull run.
0:00:44 Trading volumes have continued to rise since then, showing a weak but definite correlation with the cryptocurrency’s price.
0:00:51 The week claiming the highest trading volume commenced 15 September 2018 when Bitcoin benefited from a two-day market surge, reaching USD 6,400.
0:01:02 While transactions in the last few months have slowed down on LocalBitcoins, this is most likely because there are now more authorized cryptocurrency exchanges for Filipino’s to use.
0:01:12 Providing a solid regulatory framework for cryptocurrency seems to be key for the Filipino government as part of its larger plan to modernize the nation’s digital payment systems.
0:01:22 Vice president and senior credit officer with Moody’s Sovereign Risk Group in Singapore, Christian de Guzman, commented on the Filipino government’s approach towards cryptocurrency, saying that regulation efforts are part of a wider attempt to facilitate electronic payments.
0:01:37 ”I think that’s a key point,” he added.
0:01:39 Thanks for watching this video.
If you wanna read the whole article you can go to CoinCheckup.com or go to: “BitcoinNews.com”, who originally published this news update on their website.
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