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 | 30/100 (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 944 (2017) - Virtual Currency Exchanges |
| 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 | fsrb_only |
| 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.
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Explore IT Services →Last reviewed: 2026-04-13 · Data source: Soken Crypto Legal Map
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