Philippine Central Bank Governor Explains Crypto Policy — ‘I Don’t Want It Banned’

Philippine Central Bank Governor Explains Crypto Policy — ‘I Don’t Want It Banned’


The governor of the central bank of the Philippines has shared his policy on cryptocurrency regulation. “I don’t want it banned,” he said, advising investors not to invest money they cannot afford to lose in crypto.

Philippine Central Bank Governor on Crypto Regulation

Felipe Medalla, the governor of the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, shared his policy on cryptocurrency in an interview with Forkast, published Friday.

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Medalla was asked: “What’s your take on cryptocurrency?” He replied:

I don’t want it banned, but I don’t want to call it cryptocurrency.

The central bank governor explained that in his opinion cryptocurrency “has really very little use for actual payments, especially when the price is so volatile.” Emphasizing that currency cannot be very volatile,

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