Bit by bit: Discerning the legality of the circulation of bitcoin in the Philippines

• Main Authors: Feliciano, Ursulaine Grace C., Melchor, Marc Gino V.
• Format: text
• Language: English
• Published: Animo Repository 2015
• Subjects: Bitcoin > Law and legislation > Philippines; Commercial Law
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/6384
• Institution: De La Salle University

As the generations progress, it is inevitable that radical ideas and developments come about. It is vital that these ideas be thoroughly examined for they not only provide great opportunities but also great risk. Crypto currencies are one of the latest ideas that could revolutionize a generation. Being the most popular crypto currency, bitcoin's legal status has always been questioned everywhere due to its radical nature that might have some undesired effect in the economy. The legality of bitcoin varies from country to country, some regulates while some do not. Even those that decided to regulate varies in their regulation as some had decided to completely ban bitcoin, while some have regulated only segments of it. This study discerns the legality of bitcoin based on Philippine laws and provides an accompanying solution of how legislation can provide a way for this idea to develop safely, without much risk.