Philippines

Trading & ownership

Legal. Citizens can trade crypto through BSP-registered Virtual Asset Service Providers (VASPs).

Payments & Commerce

Permitted, but businesses must follow standard merchant invoicing and tax requirements.

Mining Operations

Legal under general business regulations with no special restrictions.

Exchange Licensing & AML/KYC

Required VASP license from Bangko Sentral ng Pilipinas (BSP) and SEC registration. KYC: Mandatory KYC rules apply to all VASP accounts.. AML: Subject to the Anti-Money Laundering Council (AMLC) regulations.

Capital Gains Tax

Taxed as standard income at progressive personal or corporate rates.

Income Tax (Staking/Mining)

Staking and mining income are taxable under personal income rules.

VAT & Sales Tax

A standard 12% VAT applies on commission fees and services.