🇵🇭 Manila (CEZA) City

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.

Overview

StatusLegal
Risk Score25/100 (Low Risk)
Regionsoutheast asia
CurrencyPHP

Tax Information

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 CryptoNo
Staking TaxTaxed as ordinary income
Airdrop TaxTaxed 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).

Licensing & Registration

RequiredYes
RegulatorBSP / SEC Philippines / CEZA
FrameworkBSP Circular 1108 (VASP); SEC MC 04-2025 / MC 05-2025 (CASP)
Easemedium

Licensing is mandatory for crypto exchanges and service providers, with moderate regulatory requirements and ongoing supervision.

Enforcement Activity

Level: Moderate

Enforcement focused on unlicensed operators and consumer protection

AML / KYC

KYC RequiredYes
Travel RuleYes
FATF MemberNo
FATF Statuscompliant
FATF BodyAPG
Suspicious-Activity ReportingYes

DeFi, Stablecoins & NFTs

Status: regulated

DeFi activities are subject to existing crypto regulations and must comply with licensing and AML requirements.

Stablecoins

Status: regulated

Stablecoins are regulated under the same frameworks as other crypto assets, requiring compliance with BSP guidelines.

NFTs

Status: no_rules

No specific NFT regulation

Mining

LegalYes
Electricity Cost$0.1/kWh
Renewable Energy18%
Infrastructurefair

Mining is legal but limited by relatively high electricity costs and moderate infrastructure quality. No special zones for mining.

Geopolitical Risk

Stabilitymoderate
SanctionsNo
Corruption Index34/100
Banking Accessmoderate
Sanctions Program ActiveNo

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

Sources

Frequently Asked Questions

Is cryptocurrency legal in Manila (CEZA)?

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.

What is the FATF status of Manila (CEZA)?

Manila (CEZA) is classified by FATF as: compliant.

Are VASPs licensed in Manila (CEZA)?

Yes, licensing is required for VASPs.

What is the AML/KYC regime in Manila (CEZA)?

KYC is mandatory for crypto businesses.

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Last reviewed: 2026-10-02 · Data source: Soken Crypto Legal Map

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