The Philippines is not keen on issuing its own cryptocurrency even as the policy-makers still look at the potential opportunities and risks associated with digital assets in the financial markets.

This was revealed by Bangko Sentral ng Pilipinas (BSP), Deputy Gov. Diwa Guinigundo in an interview. The BSP is the country’s central bank.

“No, we will not issue our own cryptocurrency. We are not considering it,” Guinigundo said in reaction to the latest suggestion by International Monetary Fund chairman Christine Lagarde that governments should consider offering their own virtual currencies to prevent the space from becoming the foundation for money launderers and fraudsters.

“I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy,” Lagarde

This article appeared first on Cryptovest

Like this: Like Loading...