SkylitEnchantment
Sun Jun 09 2024
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6 answers
1035
Is crypto banned in Philippines?｜Cryptocurrency regulations In the Philippines, ; however, crypto coins are not considered 'legal tender' as they are not issued by the BSP. In 2021, the Central Bank released the Guidelines for VASPs.cryptocurrency transactions are legal
Could you please elaborate on the regulations surrounding cryptocurrency in the Philippines? While I understand that crypto coins are not recognized as legal tender due to not being issued by the BSP, it seems contradictory to mention that cryptocurrency transactions are legal. Could you clarify this apparent inconsistency? What does the release of the Guidelines for VASPs in 2021 signify for the crypto landscape in the country? Is there any further development or updates on this matter?
