btc law in phil ?

[Stealth27374]

as far as i can see.. phililppines has not regulated and has no laws in place for bitcoin.

does this mean a philippino can currently ..  eg.  cash in a large amount of btc on an exchange.. and withdraw back to PHP bank account and pay 0% tax ?

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[diegz]

as far as i can see.. phililppines has not regulated and has no laws in place for bitcoin.

does this mean a philippino can currently ..  eg.  cash in a large amount of btc on an exchange.. and withdraw back to PHP bank account and pay 0% tax ?

I don't know what you mean here bro, but as far as I know, up to this days there is no law that regulates bitcoin in the Philippines..

Though you can withdraw tons of money thru a local exchange here in the Philippines, you are not safe in the eyes of the law...the local exchange here requires valid government ID to raise your cashout limit..It means, you can still be traced..

I just don't know what was the permit given to this local exchange or what they apply for, either for a remittance or really for a bitcoin..

But about the law, there is a cybercrime law here in the Philippines..

[benmartin613]

as far as i can see.. phililppines has not regulated and has no laws in place for bitcoin.

does this mean a philippino can currently ..  eg.  cash in a large amount of btc on an exchange.. and withdraw back to PHP bank account and pay 0% tax ?

I don't know what you mean here bro, but as far as I know, up to this days there is no law that regulates bitcoin in the Philippines..

Though you can withdraw tons of money thru a local exchange here in the Philippines, you are not safe in the eyes of the law...the local exchange here requires valid government ID to raise your cashout limit..It means, you can still be traced..

I just don't know what was the permit given to this local exchange or what they apply for, either for a remittance or really for a bitcoin..

Hindi yan pinoy at napadaan lang siguro yan dito malamang naghahabol lang ng post yan kasi tignan mo yung filipino.
Another spam post.

[diegz]

as far as i can see.. phililppines has not regulated and has no laws in place for bitcoin.

does this mean a philippino can currently ..  eg.  cash in a large amount of btc on an exchange.. and withdraw back to PHP bank account and pay 0% tax ?

I don't know what you mean here bro, but as far as I know, up to this days there is no law that regulates bitcoin in the Philippines..

Though you can withdraw tons of money thru a local exchange here in the Philippines, you are not safe in the eyes of the law...the local exchange here requires valid government ID to raise your cashout limit..It means, you can still be traced..

I just don't know what was the permit given to this local exchange or what they apply for, either for a remittance or really for a bitcoin..

Hindi yan pinoy at napadaan lang siguro yan dito malamang naghahabol lang ng post yan kasi tignan mo yung filipino.
Another spam post.

baka nga, nag effort pa man din ako.. haha.. anyway, baka din nag hahanap siya ng mapagtaguan ng pera niya, pero if talagang naligaw lang yan dito, pa lock na lang siguro nitong thread,..baka dumugin na naman..

[electronicash]

Malamang napanuod yung balita sa RCBC money laundering. interesting din kasi yung balitang yun lalo pat kung bitcoin ang ginamit nun.
Kung madali maglaunder gamit ang bitcoin malamang marami ang gagawa...

aling route sa tingin nyong option kung magla-launder ang isang chinese dito sa pinas?

[ebookscreator]

Mukang may naligaw.. nag tatanong sa tax.. sa totoo lang wla tax pero parang meron na ring tax dahil sa 500 ang rate na nabbabawas sa coins ph pag nag wiwithdraw. napakalaki ng nababawas minsan nag babago pa pang nag wiwihtdraw .na ko

[clickerz]

Mukang may naligaw.. nag tatanong sa tax.. sa totoo lang wla tax pero parang meron na ring tax dahil sa 500 ang rate na nabbabawas sa coins ph pag nag wiwithdraw. napakalaki ng nababawas minsan nag babago pa pang nag wiwihtdraw .na ko

Wala pa tayong batas regarding sa crypto currency, bata pa ito sa atin pero sa future magkaroon tayo nyan siguro mga next 10 years  pa, ganyan tayo ka bagal

OO nga haha napakalaki nga  ng bawas pero di yun pumupunta sa gobyerno, kungdi kita yun ng exchanges.

[Stealth27374]

my wife translated the tagalog :p

no im not spam.
no not laundering.

just wandering if i  convert btc to php in philippines and then buy property..      if the  php will be taxed.

[robelneo]

my wife translated the tagalog :p

no im not spam.
no not laundering.

just wandering if i  convert btc to php in philippines and then buy property..      if the  php will be taxed.

Yes you can convert your btc to philippine pesos but if it is a large amount some verification is needed I doubt if you can convert a one time 2 million dollar in one exchange you need to be guided by a local friend for any transaction that you will havein this country so as not to get lost..

[ebookscreator]

my wife translated the tagalog :p

no im not spam.
no not laundering.

just wandering if i  convert btc to php in philippines and then buy property..      if the  php will be taxed.

Yes you can convert your btc to philippine pesos but if it is a large amount some verification is needed I doubt if you can convert a one time 2 million dollar in one exchange you need to be guided by a local friend for any transaction that you will havein this country so as not to get lost..

Yeah and many exchange site can convert bitcoin into our money php.. coins ph rebit.ph and many more..  And i think we have a thread about those exchange sites..

[margarete11]

sa ngayon wala pang batad ang tungkol sa bitcoin ang republika ng pilipinas kaya yung iba sobrang ina-abuse ang technology na ito ng may mga massamang balak , ang alam ko alam na ng bangko sentral ang tungkol sa bitcoin eh pero hinde nila ina-advice na gamitin ito ng pilipino

[nielaminda]

my wife translated the tagalog :p

no im not spam.
no not laundering.

just wandering if i  convert btc to php in philippines and then buy property..      if the  php will be taxed.

If you want to get help with anything just PM sir dabs about any transaction im sure he can help you out.

[richjohn]

I think sa dami pang batas na kailangan baguhin dito sa pinas, hindi pa yan nila mapupokus ang pagsampa ng batas sa bitcoin. Siguro magkakaroon lang yan ng batas kapag lahat na ng pilipini gumagamit na ng bitcoin.

[ebookscreator]

I think sa dami pang batas na kailangan baguhin dito sa pinas, hindi pa yan nila mapupokus ang pagsampa ng batas sa bitcoin. Siguro magkakaroon lang yan ng batas kapag lahat na ng pilipini gumagamit na ng bitcoin.

Sa pag kakaalam ko kaya nga tayu gumagamit ng bitcoin dahil ayaw natin mabahiran ng tax or batas ng gobyerno ang kinikita nating bitcoin... chaka napaka anonimous ng bitcoin para sa batas ng philippines kaya wag na nilang ipasok sa batas nila yan.. ok na yung may mga store na tumatanggap ng bitcoins as payment..

[Dabs]

Anti Money Laundering law applies to all Philippine Peso movement. So pag malaki ang balak mo trade or exchange, meron record yung exchange.

Alam din ng Banko Sentral about cryptocurrencies, but currently they just advice to be careful.

Alam din ng ibang congressmen, kasi nga meron e-peso draft proposal or law, pero wala naman ibang balita beyond that.

At, to be a financial services company, kailangan meron kang investment according to Banko Sentral. Yung tagcoin or tagcash kailangan ng 2M USD (or about 100 million pesos) capital para lang mag operate.

Kung money changer ka, kailangan din naka register sa Banko Sentral.

Kung private tao ka, well, private transaction, walang kaso doon. Medyo mahirap lang mag hanap ng gusto mag trade sa individual ng malaki, although marami ako nakikita sa local bitcoins.

[bitcoineverything]

Anti Money Laundering law applies to all Philippine Peso movement. So pag malaki ang balak mo trade or exchange, meron record yung exchange.

Alam din ng Banko Sentral about cryptocurrencies, but currently they just advice to be careful.

Alam din ng ibang congressmen, kasi nga meron e-peso draft proposal or law, pero wala naman ibang balita beyond that.

At, to be a financial services company, kailangan meron kang investment according to Banko Sentral. Yung tagcoin or tagcash kailangan ng 2M USD (or about 100 million pesos) capital para lang mag operate.

Kung money changer ka, kailangan din naka register sa Banko Sentral.

Kung private tao ka, well, private transaction, walang kaso doon. Medyo mahirap lang mag hanap ng gusto mag trade sa individual ng malaki, although marami ako nakikita sa local bitcoins.

I support your claim na maraming high amount traders sa localbitcoins. Usually they are operating under private company names and are on the IT and Finance business sector. Wala namang problema dun because currently nonexistent pa naman ang regulations sa Philippines. Unlike, lets say, Belgium (even before terrorism attack this March) where konti lang talaga ang pwde nila itrade duon per person per day.

Australia is another highly regulated country. AUS and Belgium are more regulated than even the US.

Overall, being in the Philippines really has a lot of benefits.