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Philippines vs Tuvalu

Crypto regulation comparison

← Back to map | Philippines | Tuvalu
Philippines

Philippines

Tuvalu

Tuvalu

Legal
No Regulation

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.

Tuvalu has no specific cryptocurrency regulation. Uses the Australian dollar.

Tax Type Income
Tax Type None
Tax Rate 0-35%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BSP (Bangko Sentral ng Pilipinas), SEC Philippines
Regulator National Bank of Tuvalu
Stablecoin Rules BSP regulates virtual asset service providers including stablecoin operations
Stablecoin Rules No 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 specific cryptocurrency legislation
  • Uses the Australian dollar
  • Very limited financial and internet infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources