The Philippines maintains a clear regulatory framework for cryptocurrencies, with the Bangko Sentral ng Pilipinas (BSP) overseeing virtual asset service providers (VASPs) under Circulars No. 944 and 1108. Recent moratorium and CASP rules issued in 2025 further clarify licensing and operational requirements.
| Status | Legal |
| Risk Score | 37/100 (Moderate Risk) |
| Region | southeast asia |
| Currency | PHP |
| Capital Gains (Personal) | Capital gains from crypto transactions are subject to regular income tax rates, typically ranging from 20% to 35% depending on income bracket. |
| Capital Gains (Corporate) | Corporate capital gains from crypto are taxed under standard corporate income tax rates, approximately 25%. |
| VAT on Crypto | No |
| Staking Tax | Staking rewards are treated as taxable income and subject to income tax. |
| Airdrop Tax | Airdrops are considered taxable income at fair market value upon receipt. |
Crypto gains are taxed as income for individuals and corporations, with no VAT on crypto transactions. Staking, mining, and airdrops are taxable as income.
| Required | Yes |
| Regulator | BSP / SEC PH |
| Framework | BSP Circular No. 944 (2017) and BSP Circular No. 1108 (2021) - VASP Framework; SEC MC 04-2025 and MC 05-2025 for CASPs |
| Ease | medium |
| Cost (USD) | $200,000 - $1,000,000 (PHP 10M-50M minimum capital) |
Licensing is mandatory for exchanges and other crypto service providers. A moratorium on new VASP licenses was imposed effective September 1, 2025, pending regulatory review.
No detailed enforcement information available
| Status | Research |
| Name | Agila 2.0 |
| Issuing Authority | The Bangko Sentral ng Pilipinas |
| Model | wholesale |
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | Yes |
| FATF Status | compliant |
| FATF Body | APG |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities fall under existing VASP regulations and are subject to licensing and AML requirements.
Status: regulated
Stablecoins are regulated under the BSP's VASP framework and must comply with licensing and AML rules.
Status: unregulated
| Legal | Yes |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 25% |
| Infrastructure | fair |
Mining is legal but limited by relatively high electricity costs and moderate infrastructure quality. No special mining zones currently.
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 34/100 |
| Banking Access | moderate |
| Sanctions Program Active | No |
Risk Factors
The Philippines has a moderately stable political environment with ongoing regulatory adjustments in crypto. No international sanctions apply. Corruption remains a challenge, impacting business ease.
Recent Political Events
The Philippines maintains a clear regulatory framework for cryptocurrencies, with the Bangko Sentral ng Pilipinas (BSP) overseeing virtual asset service providers (VASPs) under Circulars No. 944 and 1108. Recent moratorium and CASP rules issued in 2025 further clarify licensing and operational requirements.
Philippines 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: 2026-09-06 · Data source: Soken Crypto Legal Map
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