Philippines
Bitcoin Countries
The Philippines ranks among the top 10 countries globally for grassroots Bitcoin adoption, placing 9th on Chainalysis's 2025 Global Crypto Adoption Index. An estimated 12 million Filipinos (~10% of the population) engage with cryptocurrency, with crypto rails playing a growing role in the country's $38.3 billion annual remittance economy. Coins.ph, one of Asia's largest crypto-enabled financial apps, has held a Bangko Sentral ng Pilipinas VASP license since 2017.
Details
- Status
- high_adoption
- Notable
- 12M+ crypto users, BSP VASP licensing since 2017, remittance-driven Bitcoin adoption via Coins.ph
- Legal Status
- legal
- Tax Treatment
- income tax applies on trading gains
- Regulatory Body
- Bangko Sentral ng Pilipinas (BSP)
- Capital Gains Tax
- Yes
- Bitcoin Etf Available
- No
- Chainalysis Rank 2025
- 9
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