The Philippines’ central bank announced that it is going to continue research on digital currencies. However, it is not ready to issue its own CBDC (Central Bank Digital Currency) yet. So far the central bank is going to investigate all the opportunities for creating legislation that could regulate digital currency, and also develop a network between banks and financial institutions. According to the original plan, the Philippines’s goal was to make more than 50% of retail transactions in digital form by 2023.

What do you think, will the final legislation be more severe than existing in other countries?