Hey Steemians, just recently the Philippines Securities and Exchange Commission (SEC) issued an advisory on Cryptocurrency Cloud Mining Contracts.
In order to seek an appropriate license, the Philippines requires all brokers, dealers, salesmen, and recruiters to cloud mining contracts.
Here's the good part
Philippines' central bank, Bangko Sentral ng Pilipinas (BSP), recognized Bitcoin as a legitimate payment method, and started processing license applications from the country’s crypto exchanges.
This was just a cryptocurrency update because it us always good to hear the expansion that crypto is taking on in 2018!