The Philippines maintains a legal and regulated framework for cryptocurrency activities, with the Bangko Sentral ng Pilipinas (BSP) overseeing monetary and financial stability including crypto-related payment systems. The regulatory environment is supported by BSP Circular 1108 for VASPs and SEC Memoranda for CASPs, indicating clear compliance requirements.
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Region | southeast asia |
| Currency | PHP |
| Capital Gains (Personal) | No crypto-specific capital gains tax; gains are generally taxed as ordinary income at graduated rates of 0% to 35% |
| Capital Gains (Corporate) | 25% CIT (20% for domestic corporations with assets up to PHP 100 million and taxable income up to PHP 5 million) |
| VAT on Crypto | No |
| Staking Tax | Taxed as ordinary income |
| Airdrop Tax | Taxed as miscellaneous income |
The Philippines has no crypto-specific tax law or BIR regulation. Individual crypto gains are generally taxed as ordinary income at graduated rates up to 35%, and corporate gains at the 25% CIT rate (20% for qualifying small corporations).
| Required | Yes |
| Regulator | BSP / SEC Philippines / CEZA |
| Framework | BSP Circular 1108 (VASP); SEC MC 04-2025 / MC 05-2025 (CASP) |
| Ease | medium |
Licensing is mandatory for crypto exchanges and service providers, with moderate regulatory requirements and ongoing supervision.
Enforcement focused on unlicensed operators and consumer protection
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | compliant |
| FATF Body | APG |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities are subject to existing crypto regulations and must comply with licensing and AML requirements.
Status: regulated
Stablecoins are regulated under the same frameworks as other crypto assets, requiring compliance with BSP guidelines.
Status: no_rules
No specific NFT regulation
| Legal | Yes |
| Electricity Cost | $0.1/kWh |
| Renewable Energy | 18% |
| Infrastructure | fair |
Mining is legal but limited by relatively high electricity costs and moderate infrastructure quality. No special zones for mining.
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 34/100 |
| Banking Access | moderate |
| Sanctions Program Active | No |
Risk Factors
The Philippines has moderate political stability with some risks from natural disasters and political protests. Banking access for crypto firms is moderate, and internet freedom is rated free.
Recent Political Events
The Philippines maintains a legal and regulated framework for cryptocurrency activities, with the Bangko Sentral ng Pilipinas (BSP) overseeing monetary and financial stability including crypto-related payment systems. The regulatory environment is supported by BSP Circular 1108 for VASPs and SEC Memoranda for CASPs, indicating clear compliance requirements.
Manila (CEZA) is classified by FATF as: compliant.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-10-02 · Data source: Soken Crypto Legal Map
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