The Philippines has a clear regulatory framework for cryptocurrencies, governed primarily by BSP Circular 1108, indicating a legal status for crypto activities.
| Status | Legal |
| Risk Score | 30/100 (Moderate Risk) |
| Region | southeast asia |
| Currency | PHP |
| VAT on Crypto | Yes |
Cryptocurrency transactions are subject to VAT as per the regulator's guidance, but specific rates for capital gains, staking, mining, and airdrops are not explicitly stated.
| Required | Yes |
| Regulator | BSP / SEC Philippines / CEZA |
| Framework | BSP Circular 1108 |
| Ease | medium |
Licensing is required for crypto exchanges and service providers under BSP Circular 1108, with moderate ease of obtaining licenses.
Enforcement focused on unlicensed operators and consumer protection
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | fsrb_only |
| FATF Body | APG |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities are regulated under the existing crypto regulatory framework, requiring compliance with AML and licensing rules.
Status: regulated
Stablecoins are regulated under the BSP framework, requiring issuers to comply with licensing and AML requirements.
Status: no_rules
No specific NFT regulation
| Legal | Yes |
| Electricity Cost | $0.1/kWh |
| Renewable Energy | 18% |
| Infrastructure | good |
Mining is legal with moderate electricity costs and a tropical climate affecting cooling. Infrastructure is rated good in Manila CEZA zone.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 34/100 |
| Banking Access | moderate |
Risk Factors
The Philippines maintains a stable political environment with moderate corruption and moderate ease of doing business. Crypto companies face some regulatory uncertainty and moderate banking access.
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Explore IT Services →Last reviewed: 2026-04-13 · Data source: Soken Crypto Legal Map
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