Guyana vs Philippines
Crypto regulation comparison
Guyana
Philippines
No Regulation
Legal
Guyana has no specific cryptocurrency regulation. The Bank of Guyana has noted crypto is not legal tender but has not banned it. No income or capital gains tax exists.
The Philippines is one of the largest crypto markets in Southeast Asia. The BSP licenses Virtual Asset Service Providers (VASPs) under Circular 1108 (2021), and the SEC regulates crypto as securities where applicable. The Philippines saw massive adoption through play-to-earn games (Axie Infinity) and remittances. Crypto income is taxed at progressive income tax rates.
Tax Type
No tax
Tax Type
Income
Tax Rate
0%
Tax Rate
0-35%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Bank of Guyana
Regulator
BSP (Bangko Sentral ng Pilipinas), SEC Philippines
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
BSP regulates virtual asset service providers including stablecoin operations
Key Points
- No specific cryptocurrency legislation
- Bank of Guyana warns crypto is not legal tender
- No income or capital gains tax in Guyana
- No licensing framework for crypto businesses
- Limited crypto adoption
Key Points
- BSP Circular 1108 (2021) provides comprehensive VASP licensing framework
- BSP has licensed major exchanges including Coins.ph and PDAX
- SEC Philippines regulates crypto securities and has issued warnings on unregistered offerings
- Crypto income taxed at progressive rates (0-35%); 12% VAT may apply to exchanges
- Play-to-earn gaming (Axie Infinity) drove massive adoption, especially in rural areas