Philippines
Regulatory Bodies
BSP — VASP licensing, prudential supervision
SEC Philippines — Securities token oversight, warnings against unlicensed offerings
AMLC — Anti-Money Laundering Council
Pilots operate in **BSP's Regulatory Sandbox Framework**, as with Coins.ph's PHPC approval on May 9, 2024 (exited sandbo...
Operating Models
0/9 verdictsCan specific business models operate in Philippines? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
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Primary Legislation
| Law / Regulation | Year | Scope |
|---|---|---|
| They are **not explicitly classified as e-money or payment tokens**; regulation | 2026 | They are **not explicitly classified as e-money or payment tokens**; regulation is unfolding via BSP pilots and VASP rul... |
| **Potentially securities** under Section 3 of the **Securities Regulation Code ( | 2026 | **Potentially securities** under Section 3 of the **Securities Regulation Code (SRC)** if they involve investment contra... |
Licensing Requirements
SEC Philippines — Securities token oversight, warnings against unlicensed offerings
Travel Rule
**Adopted**: Yes, via BSP and SEC regulations governing VASPs, as part of efforts to exit the FATF Grey List; described as translating FATF recommendations into national law with a "clear and decisive stance."[1]
**Effective Date**: Not explicitly stated in available sources; implementation aligns with "recently" introduced guidelines around June 2025, amid growing global enforcement trends.[1][2]
Sources do not specify a Philippines-specific threshold; FATF recommends USD/EUR 1,000 as a de minimis limit globally, with jurisdictions setting their own (e.g., all transactions or varying below threshold).[3][4][5]
Applies to licensed VASPs under BSP and SEC oversight, including those involved in crypto token listings, exchanges (crypto-fiat and crypto-crypto), transfers, issuance/sale of virtual assets, and custodian wallets; requires VASP licensing, capital requirements, and cybersecurity compliance.[1][4]
VASPs must collect and share originator/beneficiary data (e.g., name, account/wallet number, physical address, unique ID, date/place of birth) for transactions, with sanctions screening against lists like OFAC, UN, EU, and HMT before sending/receiving; interoperability challenges noted globally, but no Philippines-specific protocols detailed.[1][2][3][4][5]
SEC fines up to ₱5 million (~US$88,000) per violation, plus daily penalties; BSP may impose license suspension/revocation and potential imprisonment; aimed at preventing fraud.[1]
Tax Reporting
No verified facts yet. 19 unverified fact(s) in explorer
Custody Requirements
Custody regulation data collection in progress.
Stablecoin Regulation
Stablecoin regulation data collection in progress.
Securities Classification
Securities classification data collection in progress.
Sanctions & Restrictions
Sanctions data collection in progress.
Enforcement Actions
**Entity**: Binance (world’s largest crypto exchange).
**Violation**: Operating without required authorization under the Crypto Asset Service Provider (CASP) framework.
**Penalty**: Geo-blocking; users given 90 days to exit the platform, with website and app access restricted via coordination with telecom providers.
**Date**: 2024 (successful enforcement establishing pattern for later actions).
SEC public advisory and enforcement (no specific circular cited; referenced as prior CASP violation): https://bravenewcoin.com/insights/philippines-sec-targets-major-crypto-exchanges-in-regulatory-crackdown[1]
Confirmed in SEC advisory context: https://www.binance.com/en/square/post/27892371667002[3]; https://bitpinas.com/regulation/sec-flags-10/[4]
**Entities**: OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart, Poloniex (actively marketing to and serving Filipino users).
**Violation**: Operating without SEC licenses/registrations under CASP Rules and Guidelines (Memorandum Circulars No. 4 and No. 5, effective July 2025); providing/soliciting crypto trading services without authorization.
**Penalty**: Public advisory (August 1-4, 2025); threats of cease-and-desist orders, criminal complaints, website/app blocking via NTC, takedown requests to Google/Meta. Telecoms (PLDT, Smart, Globe) began blocking; list not exhaustive.
**Date**: Advisory issued August 1, 2025; warnings escalated August 4, 2025.
SEC Investor Advisory (August 1, 2025), SEC CASP Rules: www.sec.gov.ph (via advisory); https://bravenewcoin.com/insights/philippines-sec-targets-major-crypto-exchanges-in-regulatory-crackdown[1]
SEC Advisory (August 4): https://www.binance.com/en/square/post/27892371667002[3]; https://bitpinas.com/regulation/sec-flags-10/[4]
Memorandum Circulars No. 4 and No. 5 (July 2025): https://www.binance.com/en/square/post/27892371667002[3]
**Regulator**: BSP (identified platforms) with NTC (ordered blocks); supported by SEC for additional platforms.
**Entities**: ~50 platforms including Coinbase, Gemini, and overlaps like OKX/Bybit/KuCoin (unlicensed virtual asset service providers/VASPs).
**Violation**: Operating without BSP authorization (BSP Circular No. 1108 for VASP regulations); non-compliance with AMLA via AMLC oversight.
**Penalty**: NTC directive to ISPs for website/mobile app blocks (effective by December 25, 2025 via PLDT/Smart/Globe); part of broader risk controls for money laundering/terrorist financing.
**Date**: Blocks reported December 25, 2025.
BSP request to NTC; BSP Circular No. 1108: https://cryptorank.io/news/feed/17b0b-50-crypto-platforms-targeted-as-philippines-tightens-rules[2]
AMLA/AMLC for VASPs: https://fincrimecentral.com/sec-philippines-crypto-platforms-compliance/[5]; https://www.lightspark.com/knowledge/is-crypto-legal-in-philippines[7]
Research & Articles
Regulatory Forecast
high confidenceLikely enforcement action expected around 2026-05-07
Based on 50 historical regulatory events for Philippines, averaging every 15 days, with increasing regulatory activity.
Recent Updates
**1:1 backing** with cash and cash equivalents in Philippine bank accounts, managed via compliant banks.[1][3][4]
**1:1 backing** with cash and cash equivalents in Philippine bank accounts, managed via compliant banks.[1][3][4]
**Effective Date**: Not explicitly stated in available sources; implementation aligns with "recently" introduced guid...
**Effective Date**: Not explicitly stated in available sources; implementation aligns with "recently" introduced guidelines around June 2025, amid growing global enforcement trends.[1][2]
SEC fines up to ₱5 million (~US$88,000) per violation, plus daily penalties; BSP may impose license suspension/revoca...
SEC fines up to ₱5 million (~US$88,000) per violation, plus daily penalties; BSP may impose license suspension/revocation and potential imprisonment; aimed at preventing fraud.[1]
**Jurisdiction-specific regulatory frameworks** beyond brief mentions of a few countries (Brazil, Indonesia, Philippi...
**Jurisdiction-specific regulatory frameworks** beyond brief mentions of a few countries (Brazil, Indonesia, Philippines, Australia, Canada, UAE, California)
The search results discuss regulatory frameworks in jurisdictions like Brazil, Indonesia, the Philippines, Australia,...
The search results discuss regulatory frameworks in jurisdictions like Brazil, Indonesia, the Philippines, Australia, Canada, the UAE, and US states, but they do not provide the detailed primary source citations (government gazette URLs, regulator websites, central bank links) that your parser requires.
**Penalty**: Geo-blocking; users given 90 days to exit the platform, with website and app access restricted via coord...
**Penalty**: Geo-blocking; users given 90 days to exit the platform, with website and app access restricted via coordination with telecom providers.
**Date**: 2024 (successful enforcement establishing pattern for later actions).
**Date**: 2024 (successful enforcement establishing pattern for later actions).
**Penalty**: Public advisory (August 1-4, 2025); threats of cease-and-desist orders, criminal complaints, website/app...
**Penalty**: Public advisory (August 1-4, 2025); threats of cease-and-desist orders, criminal complaints, website/app blocking via NTC, takedown requests to Google/Meta. Telecoms (PLDT, Smart, Globe) began blocking; list not exhaustive.
**Date**: Advisory issued August 1, 2025; warnings escalated August 4, 2025.
**Date**: Advisory issued August 1, 2025; warnings escalated August 4, 2025.
**Penalty**: NTC directive to ISPs for website/mobile app blocks (effective by December 25, 2025 via PLDT/Smart/Globe...
**Penalty**: NTC directive to ISPs for website/mobile app blocks (effective by December 25, 2025 via PLDT/Smart/Globe); part of broader risk controls for money laundering/terrorist financing.
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