BTC $67,876.00 (+0.05%)
ETH $1,964.47 (+0.33%)
XRP $1.43 (+1.11%)
BNB $626.77 (+2.37%)
SOL $84.65 (+1.52%)
TRX $0.28 (+0.36%)
DOGE $0.10 (+1.05%)
BCH $565.72 (+0.63%)
ADA $0.28 (+3.12%)
LEO $8.70 (+1.20%)
HYPE $30.31 (+3.30%)
LINK $8.91 (+3.24%)
XMR $332.58 (-0.20%)
CC $0.16 (+1.99%)
XLM $0.16 (+0.61%)
RAIN $0.01 (-3.98%)
ZEC $262.89 (-0.95%)
HBAR $0.10 (+1.05%)
LTC $55.11 (+3.19%)
AVAX $9.19 (+1.97%)

Luxembourg vs Philippines

Crypto regulation comparison

← Back to map | Luxembourg | Philippines
Luxembourg

Luxembourg

Philippines

Philippines

Legal
Legal

Luxembourg is a major European hub for crypto and blockchain financial services. The CSSF regulates VASPs and crypto-related investment funds. Crypto held for more than 6 months is generally exempt from capital gains tax for individuals, making it attractive for long-term holders. Luxembourg hosts several prominent crypto exchanges and fund administrators.

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 Capital gains
Tax Type Income
Tax Rate 0-42%
Tax Rate 0-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CSSF (Commission de Surveillance du Secteur Financier)
Regulator BSP (Bangko Sentral ng Pilipinas), SEC Philippines
Stablecoin Rules Regulated under EU MiCA framework; Luxembourg hosts major stablecoin issuers
Stablecoin Rules BSP regulates virtual asset service providers including stablecoin operations
Key Points
  • CSSF oversees VASPs under the Luxembourg AML/CFT framework
  • Individuals holding crypto for 6+ months are generally exempt from capital gains tax
  • Short-term gains taxed at progressive income tax rates up to 42%
  • Major hub for crypto investment funds and blockchain companies
  • MiCA framework fully applicable from December 2024
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
Sources
Sources