Is it legal to use bitcoin in the philippines?

[Phebz]

Yes, it is legal to use Bitcoins in the Philippines. If anything, the BSP ruling is a step that allows everyone to engage in bitcoin without fear of being classified as someone who doesn’t use traditional currency (AKA the Peso). It is a step towards acceptance. Also, it is a way of telling us that we can deal with bitcoins if we want.

[HaekalZ]

Yes, it is legal to use Bitcoins in the Philippines. If anything, the BSP ruling is a step that allows everyone to engage in bitcoin without fear of being classified as someone who doesn’t use traditional currency (AKA the Peso). It is a step towards acceptance. Also, it is a way of telling us that we can deal with bitcoins if we want.

There isn't still the forbidden using bitcoin in philippines if i read the news related to them, so it's still legal in my opinion, we can say it's illegal when there is a rules from the government of the country saying that you can't get the punishment if you're using bitcoin

[dE_logics]

I agree. The news out of the Phillippines is good for crypto. I read the release from the BSP. Do they consider cryptocurrency to be "virtual currency?"

[pranazzs]

I read on wikipedia, Bitcoin in legal philippines.
seems right.
"On 6 March 2014, Bangko Sentral ng Pilipinas (BSP) issued a statement on the risks associated with bitcoin trading and usage." Central Bank of the Philippines (Bangko Sentral ng Pilipinas) under Circular 944 "

[Jannalsieh]

Yes, it is legal to use Bitcoins in the Philippines. If anything, the BSP ruling is a step that allows everyone to engage in bitcoin without fear of being classified as someone who doesn’t use traditional currency (AKA the Peso). It is a step towards acceptance. Also, it is a way of telling us that we can deal with bitcoins if we want.

There isn't still the forbidden using bitcoin in philippines if i read the news related to them, so it's still legal in my opinion, we can say it's illegal when there is a rules from the government of the country saying that you can't get the punishment if you're using bitcoin

having no law stating that it is "illegal" doesn't make it legal. Regulations and house bills passed from the congress and senate makes it legal. So far for now, in the Philippines, there is no law stating that it is legal or illegal.  But the government has an open mind about it and banks participate in transactions with cryptos, especially bitcoin.

I agree. The news out of the Phillippines is good for crypto. I read the release from the BSP. Do they consider cryptocurrency to be "virtual currency?"

Yes everything is going great with cryptos in the country, however, there is no law that states that it is accepted as virtual currency yet.
But needless to say, regulations are on the way and hopefully legalization.

[kingkats0803]

Law legalizing bitcoin, or cryptos in general, in the Philippines is yet to be made. Not heard of news that it is legal, however, it is not illegal to transact bitcoin in the country. An exchange platform is even authorized by bangko sentral ng pilipinas (BSP) to transact bitcoin and deal with banks and remittance centers in the country.
So it is basically an open market for cryptos.

[tsaroz]

And it's home to the popular exchange Coins.ph, have total bank integration and provides off bank payments of bills, cashout through ATMs and everything a bank account does all under the law.

[islakevin]

Yes it is legal , there is some wallet that support bitcoin and other altcoins in the philippines which is coins.ph , abra , etc. coins.ph is verified by banko sentral philippines.

[nwanne]

Yeah I think bitcoin is legal in Philippines and I think they are one of crypto friendly countries, you can as well search google to find out more to see if there are some sort of regulation on crypto in Philippines.

[uggeers]

And you can ask a question? and for pcheto understand in what country as they relate to the crypto currency if you are not from this country?

[tsoyens01]

Yeah its really real to use bitcoin at the Philippines..
Bitcoin is great so many features ...

[tonylewisverdu]

not legal but not also illegal.. for now theres no law that embrace the crypto in the Philippines, but we know government wants to tax the crypto world

[Gibreil]

Yes, it is legal to use Bitcoins in the Philippines. If anything, the BSP ruling is a step that allows everyone to engage in bitcoin without fear of being classified as someone who doesn’t use traditional currency (AKA the Peso). It is a step towards acceptance. Also, it is a way of telling us that we can deal with bitcoins if we want.

Yes it is legal to use bitcoin in Philippines. In fact, there are many Filipinos who are engaging in bitcoin investment. That's there is a news in relation to the bitcoin scam last day, see here . BSP warned Filipinos already by this ponzi scam made by our countrymen also but because some people are easily fooled by scammers, bitcoin always accused by the people. Ignorance tend to be fooled and having deeper knowledge makes you profitable. The purpose of bitcoin is to help our economy, to innovate our technology, to bank the unbanked and to give us a brighter future. Please share it to you neighborhood also that bitcoin isn't a scam, the people who used the bitcoin makes it scam.

[nydiacaskey01]

having no law stating that it is "illegal" doesn't make it legal. Regulations and house bills passed from the congress and senate makes it legal. So far for now, in the Philippines, there is no law stating that it is legal or illegal.  But the government has an open mind about it and banks participate in transactions with cryptos, especially bitcoin.

Law legalizing bitcoin, or cryptos in general, in the Philippines is yet to be made. Not heard of news that it is legal, however, it is not illegal to transact bitcoin in the country. An exchange platform is even authorized by bangko sentral ng pilipinas (BSP) to transact bitcoin and deal with banks and remittance centers in the country.
So it is basically an open market for cryptos.

For the sake of argument, if the Central bank of The Philippines allowed a company like coins.ph, rebit.ph and abra to operate in exchanging Bitcoins to Philippine Peso and vice versa, isn't it that its already saying that its legal? They are regulating it already. They issued a new license to accept and hold their clients funds and extend the functionality of its online and offline payment services.

[ecnalubma]

Yes its legal since it is recognized by the central bank, but not a legal tender but for remittance purposes only. I think the lawmakers are up to crafting concrete laws that will regulate cryptocurrencies but I'm very positive that this move will bring more adopters and investors in this crypto industry.

[thecoder2017]

Yes i think its legal and i heard that some stores are already accepting bitcoins as payment and its nice to hear that there are some students who uses bitcoin as an income to finance their studies.

[kier010]

BSP allow bitcoin in the Philippines by allowing exchange sites to run like coins.ph. BSP for now regulated exchange sites and maybe soon they regulate bitcoin. BSP advise filipinos to be conscious of the opaqueness of transactions involving Bitcoins. it is a good that BSP and government are open in this kind of thing compared to other country were they ban bitcoin.

[jepoyr1]

yeah it so much legal is our county which is Philippines because here in my country need money but some of fillipinos they use the name of crypto as shamefull for there own good 

[Hanazawa]

Yes, it is legal to use Bitcoins in the Philippines. If anything, the BSP ruling is a step that allows everyone to engage in bitcoin without fear of being classified as someone who doesn’t use traditional currency (AKA the Peso). It is a step towards acceptance. Also, it is a way of telling us that we can deal with bitcoins if we want.

Yes Bitcoin is legalized in the Philippines. Bitcoin is quite popular in Philippines they accepted as a criptocurrency they already use bitcoin in many transactions like buying and as a payment for everything. With the helps of coinbase in the Philippines it is become more efficient to use in the Philippines.

[leland orser]

For now, using bitcoin in the Philippines is not legal.
But that doesn't mean it's illegal, and people are still free to exchange.