Crypto & Digital Assets - Philippines

DevelopingDual regime: Bangko Sentral ng Pilipinas (BSP) Circular No. 1108 (2021) licenses Virtual Asset Service Providers as money service businesses; SEC Memorandum Circular Nos. 4 & 5, Series of 2025 (CASP Rules and Guidelines, effective July 2025) regulate Crypto-Asset Service Providers, focusing on issuance, marketing, trading and investor protection.

The Philippines regulates crypto exchanges and VASPs under two overlapping regimes. BSP Circular 1108 has required a Certificate of Authority since 2021 (mainly AML/CFT and money-service-business oversight), but the BSP has frozen new VASP licenses since September 2022 and extended that moratorium indefinitely in 2025. In 2025 the SEC introduced its own CASP framework (effective July 5, 2025) imposing local incorporation, a PHP 100 million capital floor, and conduct/market-integrity rules, and has begun blocking unregistered foreign exchanges.

Machine-assisted translation · verified 5/23/2026 · orientation, not legal advice. English version →