BSP said they will return to circular. 471 "to define the regulatory environment of virtual currency in the Philippines." In addition, Espenilla said SP is studying the proposals of the banking industry to lift the lid while the Forex Trade, "and strengthen" rules cover the money transfer and Exchange.The Bank Association of the Philippines (BAP) has proposed an earlier liberalisation with no care for foreign exchange limit documents to discourage foreign exchange deals from a "black market", or foreign exchange trading, securities and money laeknok the official banking system. increase to bolster BAP, $ 2 million from the current $ 120,000 in the amount of foreign exchange that the Bank be sold to residents without obtaining approval prior to that SP. SP currently must have a guarantor Bank references from customers who want to buy more than $ 120,000 per day from about 85 percent of the banking system to perform foreign exchange transactions in the country, which has been implemented for the banking industry, shows that the foreign exchange and money change to legal services as long as these registered BAP has introduced more stringent regulations on the Exchange.
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