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NEW CRYPTO LAW - ExplainedThe amendment requires the Treasury's Office of Foreign Assets Control (OFAC) to begin risk-focused examinations for money-services businesses. 1. Is cryptocurrency legal in the Philippines? Yes. Virtual currencies are legal. However, the BSP does not recognize bitcoin and other �virtual. Pro-crypto Majority Whip Tom Emmer says $ billion Binance settlement shows U.S. doesn't need new crypto laws. Rep. Tom Emmer (R-Minn.) said.
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