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New cryptocurrency regulation in Philippines
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[QUOTE="Donkiz, post: 79366, member: 26238"] The fact that cryptocurrency transactions are decentralized and unregulated has been a cause of worry to many governments, and truth is that they are right to be worried. Governments are losing millions of dollars on daily basis because of transactions that should have gone through banks and earn some revenue for governments, going through cryptocurrency platforms without governments knowledge. Apart from revenue issue, there has been this silent fear among governments since the inception of cryptocurrencies and the role it might play in money laundering activities and terrorism financing. Most times, security agents follow money trail to catch people indulging in these crimes, but if these things goes through cryptocurrency platforms it might be difficult to trace. These are among the reasons why governments will not rest until they find a way to have a grip on cryptocurrency transactions, no matter how small the grip might be. [/QUOTE]
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