BTC $68,050.00 (+1.78%)
ETH $1,971.48 (+1.42%)
XRP $1.43 (+1.91%)
BNB $626.54 (+3.39%)
SOL $84.52 (+2.79%)
TRX $0.29 (+0.26%)
DOGE $0.10 (+2.22%)
BCH $558.37 (-0.49%)
ADA $0.28 (+4.73%)
LEO $8.69 (+0.14%)
HYPE $30.25 (+4.58%)
LINK $8.97 (+5.49%)
XMR $334.09 (-0.34%)
CC $0.16 (+1.14%)
XLM $0.16 (+2.64%)
RAIN $0.01 (-1.26%)
HBAR $0.10 (+2.81%)
ZEC $258.77 (-1.46%)
LTC $55.22 (+5.11%)
AVAX $9.14 (+2.93%)

Philippines vs Paraguay

Crypto regulation comparison

← Back to map | Philippines | Paraguay
Philippines

Philippines

Paraguay

Paraguay

Legal
Legal

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.

Paraguay has no specific comprehensive crypto law. President Abdo vetoed a crypto regulation bill in 2022. The BCP does not recognize crypto as legal tender. VASPs must register with SEPRELAD for AML compliance since 2020. Paraguay is a significant crypto mining hub due to cheap hydroelectric power from the Itaipu Dam, though bills to restrict mining due to energy theft have been debated.

Tax Type Income
Tax Type Income
Tax Rate 0-35%
Tax Rate 8-10%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BSP (Bangko Sentral ng Pilipinas), SEC Philippines
Regulator BCP (Banco Central del Paraguay), SEPRELAD
Stablecoin Rules BSP regulates virtual asset service providers including stablecoin operations
Stablecoin Rules No specific stablecoin regulation
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
Key Points
  • No comprehensive crypto law enacted; 2022 bill was vetoed by President Abdo
  • Major crypto mining hub thanks to cheap hydroelectric power (Itaipu Dam)
  • VASPs must register with SEPRELAD (anti-money laundering secretariat)
  • Income from crypto activities subject to 8-10% tax rates
  • ANDE (national electricity authority) regulates power consumption for mining operations
Sources
Sources