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As of June 12, 2025, all regulations under Memorandum Circulars 4 and 5 have taken effect, aimed at protecting crypto investors and maintaining trust within the industry. The Philippines has demonstrated remarkable progress in embracing digital assets, having introduced a formal regulatory framework for virtual currency exchanges and crypto-to-fiat service providers back in 2017.
Fast-forwarding to 2025, it is evident that the nation’s commitment to cryptocurrency remains unwavering. In recent times, the government has taken substantial strides to bolster its stance on digital assets by implementing the following measures:
Philippine Peso Backed Stablecoin (PHPC) was launched under the central bank’s regulatory sandbox.
Financial Products and Services Consumer Protection Act took effect on September 1, 2022, providing protection for crypto and other digital assets.
BSP Circular No. 1108 was released on January 26, 2021, expanding CASPs registration with anti-money laundering (AML) compliance.
The “Travel Rule” for cryptocurrency transactions exceeding ₱50,000 was established in 2018.
It is crucial to acknowledge that the government’s strategic actions have yielded impressive results. In fact, the Philippines now ranks 20th globally in crypto wealth, a remarkable achievement driven by its tech-savvy population, robust remittance flows, and forward-thinking regulation.
It is imperative for all cryptocurrency exchanges and service providers to abide by the newly introduced regulations under Memorandum Circulars 4 and 5. These strict protocols are designed to maintain transparency and security within the industry.
Source: coinpedia.org
