Mauritania vs Philippines
Crypto regulation comparison
Mauritania
Philippines
Restricted
Legal
Mauritania has a restrictive stance on cryptocurrency. Islamic finance principles influence the financial regulatory approach. The central bank has warned against crypto use.
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
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
0-35%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Banque Centrale de Mauritanie
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
- Central bank has warned against cryptocurrency use
- Islamic finance principles influence regulatory approach
- No specific cryptocurrency legislation
- Limited crypto infrastructure
- Financial institutions discouraged from dealing in crypto
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