The Philippines has a clear regulatory framework for cryptocurrencies, with the Bangko Sentral ng Pilipinas (BSP) regulating virtual currency exchanges under BSP Circular 944 (2017). Crypto activities are legal and regulated.
| Status | Legal |
| Risk Score | 37/100 (Moderate Risk) |
| Region | southeast asia |
| Currency | PHP |
| Capital Gains (Personal) | No specific crypto tax; income tax at 0-35% progressive rates may apply |
| Capital Gains (Corporate) | 25% corporate tax (20% for SMEs) |
| VAT on Crypto | No |
The regulator page does not provide explicit tax details for cryptocurrencies.
| Required | Yes |
| Regulator | BSP / SEC PH |
| Framework | BSP Circular No. 944 (2017) + BSP Circular No. 1108 (2021) - VASP Framework; BSP Memorandum M-2025-031 (VASP moratorium, effective Sept 1 2025); SEC MC 04-2025 (CASP Rules) + SEC MC 05-2025 (CASP Guidelines), effective July 5, 2025 |
| Ease | medium |
| Cost (USD) | $200,000 - $1,000,000 (PHP 10M-50M minimum capital) |
Licensing is required for virtual currency exchanges under BSP Circular 944.
No detailed enforcement information available
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | compliant_removed_from_grey_list |
| FATF Body | APG |
| Suspicious-Activity Reporting | Yes |
Status: unregulated
No explicit regulatory framework for DeFi is mentioned on the regulator page.
Status: regulated
Stablecoins are regulated under the general virtual currency framework by BSP.
Status: unregulated
| Legal | Yes |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 25% |
| Infrastructure | good |
Mining is legal with moderate electricity costs and 25% renewable energy share.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 34/100 |
| Banking Access | moderate |
Risk Factors
The Philippines is politically stable with moderate corruption and moderate ease of doing business. It is not under international sanctions.
The Philippines has a clear regulatory framework for cryptocurrencies, with the Bangko Sentral ng Pilipinas (BSP) regulating virtual currency exchanges under BSP Circular 944 (2017). Crypto activities are legal and regulated.
Philippines is classified by FATF as: compliant_removed_from_grey_list.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-06-01 · Data source: Soken Crypto Legal Map
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