The Philippines has officially fully implemented the crypto travel rule.
This means that all crypto you send or receive to an external wallet has to at least have a sender's name and wallet address. For amounts greater than 50,000, even more personal details are required.
This essentially makes the crypto in my hardware wallets completely obsolete. This is because crypto in hardware wallets only have a passphrase and don't have a name attached to them. They pretty much wiped out tons of money overnight.
With that new rule, I am officially done investing in crypto. I am not going to work on websites that pay in crypto anymore or invest any money in it anymore. Why the government hasn't banned crypto altogether is beyond me. China and India have banned it already, among other countries, and I can see the Philippines soon following suit, forcing everyone to go back to 100 percent fiat.
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