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Philippine Government Bill Could Pave Way for Bitcoin-Backed Money

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— Coindesk

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A member of the House of Representatives of the Philippines has introduced a bill that would seek to create a government-backed “e-peso” that would serve as an official medium of exchange for domestic online payments.

Introduced as part of the E-Peso Act of 2014, the payments tool would be considered legal tender for debt, taxes and goods and services, according to a report by The Philippine Star.

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