As of 2017, the Philippines has not yet released any official stance on Bitcoin. However, that same year the country’s Central Bank issued a warning to the public about the risks associated with investing in cryptocurrencies.
Then in 2018, the Securities and Exchange Commission (SEC) released a statement saying that they “are not regulate[ing] virtual currencies as securities.” So while there is no official law or regulation surrounding Bitcoin in the Philippines, it appears that the government is taking a hands-off approach for now.
This lack of regulation has made the Philippines a friendly environment for Bitcoin and other cryptocurrencies. There are several popular exchanges based in the country, such as Coins.ph and BuyBitcoin.
ph. And last year, the country even got its first Bitcoin ATM.
So if you’re looking to buy or use Bitcoin in the Philippines, you shouldn’t have any problem doing so. Just be aware of the risks involved, as with any investment.