Legality of bitcoin here in Philippines

[nappoleon]

kung may  proweba ka namang ipapakita bkit ka haharangin diba...pag tinanong ka kung san galing yung pera mo. ei d sa pag bibitcoin so ipapaliwanag mona yun kung paano kumita..kasi legal naman yung bitcoin ei...

Sasabihan nalang sa pagbibitcoin bakit gusto mo rin ba subukan. Magtaka kasi sila lalo na if kung eh withdraw mo 50k tapos bata kapa magtatanong talaga yan sila. Kasi napaka imposible kasi magka 50 ang isang bata na walang trabaho .

No it's not. I've transacted a little over 100k in 3 days and got no problem.

[Jombitt]

Mga maam/sir what if ayun nga meron syang acc na medyu sabihin na nateng kumikita talaga ng malaki.. and then nagkaroon ng mga assets like lupa bahay and mga estates

Me mga pagkakataon ba na haharangin sya ng kung ano mang government chuchu na tatanungin sya kung saan nya nakukuha yunng pera nya na ganon kalaki and parang lilitisin.. kase alam ko me tax naman si bitcoin naten pag i exchange na diba??

Naisip ko lang po🙂
Paki correct po ako kung super mali hehehezz

dpende yan kung san mangagaling ung income mo sa pag bibitcoin kelangan din ata i declare yan pag sa assets mo na ang usapan lalo na pag malakihan. pero kung declared mo naman na legal galing di ka naman na nkukunan ng tax yan hehe.

[restypots]

pwede ka mag tabi ng mga pruweba gaya ng mga reciept sa pinagwiwithdrawan mo at mga blockchain transaction para maipakita sa kanila na binabayaran ka at pde mo nman ipakita ang forum post mo para maniwala sila

[Fourgh]

I highly doubt if phil government has the capacity to do so. They have more laundering issues with peso to deal with than Bitcoin. If they do, just tell them the truth that you're trading bitcoins. In Philippines, the liquidity flow is being regulated that means, you can only cash out so much in a day. As such, coins.ph's liquidity are based on the customer's account levels. At best, If you're trying to cash out millions it would take weeks. I'm not too familiar with buybitcoin.ph but I believe they have similar liquidity mechanism. The point is, every liquidity flow is already regulated unless you transact p2p.

You may want to review the ff:
- http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf
- https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southern_Asia

And, there's no tax guidelines when owning bitcoin in phils yet. Government can't tax a currency. So there's none.

I agree with you Sir, salamat sa info, siguro pag mature na Bansa natin baka malegalize na ang Bitcoin. Sa ngayon parang malabo pa tayo in legalizong bitcoin sa Pinas. Dami pa nating problema

[nappoleon]

I highly doubt if phil government has the capacity to do so. They have more laundering issues with peso to deal with than Bitcoin. If they do, just tell them the truth that you're trading bitcoins. In Philippines, the liquidity flow is being regulated that means, you can only cash out so much in a day. As such, coins.ph's liquidity are based on the customer's account levels. At best, If you're trying to cash out millions it would take weeks. I'm not too familiar with buybitcoin.ph but I believe they have similar liquidity mechanism. The point is, every liquidity flow is already regulated unless you transact p2p.

You may want to review the ff:
- http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf
- https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southern_Asia

And, there's no tax guidelines when owning bitcoin in phils yet. Government can't tax a currency. So there's none.

I agree with you Sir, salamat sa info, siguro pag mature na Bansa natin baka malegalize na ang Bitcoin. Sa ngayon parang malabo pa tayo in legalizong bitcoin sa Pinas. Dami pa nating problema

It's actually already legal. There has been few applications lined up to bsp for operating ph-based crypto exchanges.

[helen28]

I highly doubt if phil government has the capacity to do so. They have more laundering issues with peso to deal with than Bitcoin. If they do, just tell them the truth that you're trading bitcoins. In Philippines, the liquidity flow is being regulated that means, you can only cash out so much in a day. As such, coins.ph's liquidity are based on the customer's account levels. At best, If you're trying to cash out millions it would take weeks. I'm not too familiar with buybitcoin.ph but I believe they have similar liquidity mechanism. The point is, every liquidity flow is already regulated unless you transact p2p.

You may want to review the ff:
- http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf
- https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southern_Asia

And, there's no tax guidelines when owning bitcoin in phils yet. Government can't tax a currency. So there's none.

I agree with you Sir, salamat sa info, siguro pag mature na Bansa natin baka malegalize na ang Bitcoin. Sa ngayon parang malabo pa tayo in legalizong bitcoin sa Pinas. Dami pa nating problema

Sa ngayon talaga ay ang malabo pa yon marami pang dapat asikasuhin ng ating gobyerno lalo na ngayon ang priority talaga muna ay paano pababaain ang mga remittances ganun kaysa dito pero base sa mga nababasa ko kasalukuyan na tong pinag aaralan in fact kinikilala na tong as a mode of remitting money at mode of payment ng ating pamahalaan.

[paul00]

I highly doubt if phil government has the capacity to do so. They have more laundering issues with peso to deal with than Bitcoin. If they do, just tell them the truth that you're trading bitcoins. In Philippines, the liquidity flow is being regulated that means, you can only cash out so much in a day. As such, coins.ph's liquidity are based on the customer's account levels. At best, If you're trying to cash out millions it would take weeks. I'm not too familiar with buybitcoin.ph but I believe they have similar liquidity mechanism. The point is, every liquidity flow is already regulated unless you transact p2p.

You may want to review the ff:
- http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf
- https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southern_Asia

And, there's no tax guidelines when owning bitcoin in phils yet. Government can't tax a currency. So there's none.

I agree with you Sir, salamat sa info, siguro pag mature na Bansa natin baka malegalize na ang Bitcoin. Sa ngayon parang malabo pa tayo in legalizong bitcoin sa Pinas. Dami pa nating problema

It's actually already legal. There has been few applications lined up to bsp for operating ph-based crypto exchanges.

San mo nabasa yan? at sana ma approved para mas mabilis mag withdraw at baka sakaling magka atm si bitcoin satin hindi natin pumunta sa banko para iwithdraw pa atm machine nalang. Yung gcash kase medyo mahal yung fee.

[xenxen]

kung may  proweba ka namang ipapakita bkit ka haharangin diba...pag tinanong ka kung san galing yung pera mo. ei d sa pag bibitcoin so ipapaliwanag mona yun kung paano kumita..kasi legal naman yung bitcoin ei...

Sasabihan nalang sa pagbibitcoin bakit gusto mo rin ba subukan. Magtaka kasi sila lalo na if kung eh withdraw mo 50k tapos bata kapa magtatanong talaga yan sila. Kasi napaka imposible kasi magka 50 ang isang bata na walang trabaho .

hahaha ei bat nagkaroon ka nang 50k kung wla kang trabaho... maitutring din po na trabaho yung pag bibitcoin..hamalimbawa sa trading ei bata palang magaling na mag trade kahit bata po pwede nrin kumita....matanda lang ba pwede kumita....hindi naman po ilegal ang pag ttrade...ipakita mo sa kanila na ganun trabaho mo..pag pinasok mo yung pera mo sa bangko at nag withdraw ka dun papasok yung babayaran mong tax...pag sayo na pera mo pag binili mo nang ariarian mag babayad ka rin nang tax...

[nappoleon]

I highly doubt if phil government has the capacity to do so. They have more laundering issues with peso to deal with than Bitcoin. If they do, just tell them the truth that you're trading bitcoins. In Philippines, the liquidity flow is being regulated that means, you can only cash out so much in a day. As such, coins.ph's liquidity are based on the customer's account levels. At best, If you're trying to cash out millions it would take weeks. I'm not too familiar with buybitcoin.ph but I believe they have similar liquidity mechanism. The point is, every liquidity flow is already regulated unless you transact p2p.

You may want to review the ff:
- http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf
- https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southern_Asia

And, there's no tax guidelines when owning bitcoin in phils yet. Government can't tax a currency. So there's none.

I agree with you Sir, salamat sa info, siguro pag mature na Bansa natin baka malegalize na ang Bitcoin. Sa ngayon parang malabo pa tayo in legalizong bitcoin sa Pinas. Dami pa nating problema

It's actually already legal. There has been few applications lined up to bsp for operating ph-based crypto exchanges.

San mo nabasa yan? at sana ma approved para mas mabilis mag withdraw at baka sakaling magka atm si bitcoin satin hindi natin pumunta sa banko para iwithdraw pa atm machine nalang. Yung gcash kase medyo mahal yung fee.

Here:
https://news.bitcoin.com/philippines-government-yet-to-approve-cryptocurrency-exchange-applicants/
https://www.coindesk.com/philippine-central-bank-sees-few-applicants-for-crypto-exchange-license/

That was just recently. I believe coins.ph has a service where you can withdraw from an ATM machine (security bank) without having a card or bank account.

[helen28]

I highly doubt if phil government has the capacity to do so. They have more laundering issues with peso to deal with than Bitcoin. If they do, just tell them the truth that you're trading bitcoins. In Philippines, the liquidity flow is being regulated that means, you can only cash out so much in a day. As such, coins.ph's liquidity are based on the customer's account levels. At best, If you're trying to cash out millions it would take weeks. I'm not too familiar with buybitcoin.ph but I believe they have similar liquidity mechanism. The point is, every liquidity flow is already regulated unless you transact p2p.

You may want to review the ff:
- http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf
- https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southern_Asia

And, there's no tax guidelines when owning bitcoin in phils yet. Government can't tax a currency. So there's none.

I agree with you Sir, salamat sa info, siguro pag mature na Bansa natin baka malegalize na ang Bitcoin. Sa ngayon parang malabo pa tayo in legalizong bitcoin sa Pinas. Dami pa nating problema

It's actually already legal. There has been few applications lined up to bsp for operating ph-based crypto exchanges.

San mo nabasa yan? at sana ma approved para mas mabilis mag withdraw at baka sakaling magka atm si bitcoin satin hindi natin pumunta sa banko para iwithdraw pa atm machine nalang. Yung gcash kase medyo mahal yung fee.

Here:
https://news.bitcoin.com/philippines-government-yet-to-approve-cryptocurrency-exchange-applicants/
https://www.coindesk.com/philippine-central-bank-sees-few-applicants-for-crypto-exchange-license/

That was just recently. I believe coins.ph has a service where you can withdraw from an ATM machine (security bank) without having a card or bank account.

Legal na po pala siya eh, kaso hindi naman po siya as a currency parang one way to remit money pero kumbaga sa cash natin hindi pa siya legal tender pang exchange value lang siya at pang trading talaga,. at least good news to dahil  kinikilala na ng government natin to hindi tulad sa ibang bansa na binaban pa nila to.

[raymart0720]

hahahhhahaha kaya nga po eh meron akong kaklase nakakapag widraw sya ng napaka laki then ewan ko ba minsan nakakatakot den eh pero legal tong bitcoin small tax lang pinapataw nila

[Insanerman]

hahahhhahaha kaya nga po eh meron akong kaklase nakakapag widraw sya ng napaka laki then ewan ko ba minsan nakakatakot den eh pero legal tong bitcoin small tax lang pinapataw nila

May tax na ba ang bitcoin sa atin? last time I check wala pa naman ah ang magbabayad lang sa gobyerno ay ang mga exchanges to have their licenses etc. Sa ngayon libre pa, pero baka sa future patawan na nila.

[L00n3y]

Marami pang kelngang ayusin ang pamahalaan para magkaroon ng legality dito yan. Papasok Jan ang pagbubuhos ng buwis sa ating mga bitcoiner, ang paggawa NG mga bagong batas regarding sa cryptocurrencies. Mukhang masyadong malalim na usapin pa ang lalakbayin natin dito. Oo medyo okie naman tayo sa ngayon dahil hindi pa tayo sinisilip ng gobyerno Kaya tahimik lang muna tayo hanggat hindi pa ito nagkakaroon ng malinaw na mga transaksyon. Play safe. Earn more.

[acemith]

Magandang usapin ang legalidad ng bitcoin sa pinas. Mga bagay na may kinalaman sa tax at anti-money laundering. Ano ang mga limitasyon natin? Kung may ginagawa na bang mga pag-aaral o aksyon ang gobyerno dito. Marami akong gustong malaman at susundan ko itong thread na ito.

[Jombrangs]

Sa mga ang pag kakaalam ko patago pa din si bitcoin ngayon dito sa pinas kahit may mga restaurant at stores n nag aaccept ng bitcoin dito di pdin alam ng government ntin dito yan...
Sure ksi yan pag nalanan yan ng government ntin sure yan pati si bitcoin lalagyan ng tax yan ...

[JDacer]

kong mag cashout ako sakin parin ang bayad hay naku naka kuha ako nga 8000 php kasi yong kaibigan ko nanalo ng 10 btc sa trading

[DhanThatsme]

Bitcoin is currency so paanu nila tataxan?
Para ka lang may electronic money. actually its electronic money.

Ang problem na nakikita ko is paanu mo mapapatunayan na yun "PERA" na kkwestyunin nila (halimbawa malakihan na at nagkasilipan) is from cash out galing bitcoin. Spat na kaya proof ang bitcoin account? pero sa ngayon may mas malaki pang problema ang ilipinas hindi pa nila ito mabibigyan pansin.

[samycoin]

Mga maam/sir what if ayun nga meron syang acc na medyu sabihin na nateng kumikita talaga ng malaki.. and then nagkaroon ng mga assets like lupa bahay and mga estates

Me mga pagkakataon ba na haharangin sya ng kung ano mang government chuchu na tatanungin sya kung saan nya nakukuha yunng pera nya na ganon kalaki and parang lilitisin.. kase alam ko me tax naman si bitcoin naten pag i exchange na diba??

Naisip ko lang po🙂
Paki correct po ako kung super mali hehehezz

Sa palagay ko po marami naman ways para mapaliwanag yan kung biglang yaman ng dahil sa bitcoin. Kasi yung kakilala ko dito may bahay at sasakyan na pero lahat nakapangalan sa asawa nya ang bahay at sasakyan kasi yun ang may trabaho pero yung kakilala ko talaga nagpundar nun galing sa pagbibitcoin. So sa palagay ko di na kwestyunin yun ng gobyerno sa dami ng inaasikaso nila. Palagay ko kung billion yan hahabulin ka na talaga ng mga yan.

[smooky90]

mas mganda ipakita sa kanila ng actual sa loptop na kumikita ka at binabayaran kesa akusahan ng kung ano ano

[sehoon]

Naka-ban ang bitcoin sa ibang bansa kagaya ng China. Pero dito sa Pilipinas, legal ang bitcoin.