Philippines Introduces Comprehensive Cryptocurrency Regulations Requiring Licensing and Capital Compliance

Cryptocurrency asset service providers in the Philippines are now required to obtain licenses and comply with strict disclosure requirements, under the country’s most comprehensive digital asset regulatory framework to date. Crypto asset service providers (CASPs) operating in the Philippines must register as local companies and meet a minimum paid-up capital requirement of ₱100 million (approximately USD 1.8 million). The new regulations were issued on May 30 under Securities and Exchange Commission (SEC) Memorandum Circular No. 5 and officially took effect on Thursday. Companies are also required to establish a physical office, segregate client assets from company assets, and submit regular operational reports.