Jordan vs Philippines
Crypto regulation comparison
Jordan
Philippines
Restricted
Legal
Jordan restricts cryptocurrency use. The Central Bank of Jordan has issued multiple warnings against crypto use and prohibits banks and financial institutions from dealing in it. The JSC does not recognize crypto as a financial instrument. However, private ownership is not explicitly criminalized.
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
Unclear
Tax Type
Income
Tax Rate
N/A
Tax Rate
0-35%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CBJ (Central Bank of Jordan), JSC (Jordan Securities Commission)
Regulator
BSP (Bangko Sentral ng Pilipinas), SEC Philippines
Stablecoin Rules
Not specifically regulated; CBJ does not endorse any crypto
Stablecoin Rules
BSP regulates virtual asset service providers including stablecoin operations
Key Points
- CBJ prohibits banks and payment companies from dealing in cryptocurrency
- JSC does not recognize or regulate crypto as a security or financial instrument
- Multiple government warnings issued advising against crypto investment
- Private ownership of crypto is not explicitly criminalized
- Jordan has explored blockchain for government services but remains cautious on crypto trading
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