The Philippines operates a dual, still-consolidating licensing perimeter for crypto: the SEC requires authorization to offer 'crypto asset services' (effective 5 July 2025), while the BSP separately requires a Virtual Asset Service Provider (VASP) license for entities facilitating crypto payment/transaction rails. The two regimes are non-substitutable — SEC sandbox participation does not satisfy the BSP VASP requirement. BSP also imposed a multi-year moratorium on new VASP applications from Sept 2022, complicating entry. Multiple major offshore exchanges have been publicly named as unauthorized.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
Sources and findings (5)
T?source not recordedM5bindingin force
T?source not recordedM5bindingin force
T?source not recordedM3bindingenacted not yet effective
The Philippines has no comprehensive statutory taxonomy for crypto-assets distinguishing security tokens, utility tokens, stablecoins, or NFTs. The SEC's 2023 draft rules under the Financial Products and Services Consumer Protection Act (FPSCPA) propose bringing 'tokenized securities products' within the existing securities definition, but a finalized, comprehensive classification framework has not been confirmed via primary source at this run.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
No Philippine primary-source regulation specifically addressing staking, DeFi lending, DEX operation, mining, node operation, validator activity, or tokenization as discrete on-chain activities was located. Such activity, if conducted commercially, would likely fall under the general SEC crypto-asset-service or BSP VASP licensing perimeter, but no activity-specific rules are confirmed.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
The Philippines has no comprehensive stablecoin statute. The only confirmed authorization is BSP's approval, under its Regulatory Sandbox Framework, for Coins.ph to pilot a peso-referenced stablecoin (PHPC) backed by cash and cash-equivalents held in Philippine bank accounts. No general reserve-requirement, redemption-right, disclosure, or systemic-designation regime for stablecoins has been confirmed via primary source.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
Consumer protection for crypto activity is being built on two tracks: (i) SEC public warnings/advisories against unauthorized platforms, and (ii) the broader Financial Products and Services Consumer Protection Act (FPSCPA) implementing rules, which the SEC's 2023 draft proposed extending to crypto/tokenized securities via disclosure, fair market conduct, and dispute-resolution obligations.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
No dedicated Bureau of Internal Revenue (BIR) issuance specifically classifying the income-tax, capital-gains, VAT, or withholding treatment of crypto-assets has been confirmed via primary source. The Department of Finance has previously taken the position that income from blockchain-based games/tokens (e.g., Axie Infinity SLP) constitutes taxable Philippine-source income, but this is a policy statement rather than a confirmed binding BIR circular directly addressing crypto more broadly.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
No PH-specific outbound-restriction statute or crypto-specific cross-border reporting threshold was located. However, BSP's June 2026 position on Binance/BlockShoals establishes a de facto cross-border gating mechanism: an offshore exchange's local partner must integrate with a BSP-licensed domestic VASP before onboarding users through offshore infrastructure, and SEC sandbox participation does not substitute for this requirement.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
AML/CFT obligations for crypto are covered under the FIM aml_ctf module subscription and are NOT re-produced as claims here per module-subscription rules. Disambiguation context only: the SEC's July 2025 crypto-asset-service rules bundle AML systems, suspicious transaction reporting, and customer due diligence into the licensing authorization requirement (see crypto_licensing module), and BSP VASP supervision similarly incorporates AML/CFT expectations consistent with FATF Recommendation 15.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
Sources and findings (1)
T?source not recordedM1non-binding
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