COUNTRY NOTE • LICENSING
Philippines | Crypto License (Virtual Asset Services) • 2025
General Overview

The Philippines offers a regulatory pathway for Virtual Asset Services under the Monetary Board of the Central Bank. The framework supports core activities such as custody, fiat–crypto on/off-ramps, and crypto exchange operations, provided applicants establish genuine local substance and robust AML/CTF controls.

Suitable Activities with This License
  • Custody of digital assets
  • Fiat–Crypto conversions (on/off-ramp)
  • Crypto exchange services
Regulatory Authority

The Certificate to deliver virtual asset services is granted by the Monetary Board (Central Bank of the Philippines).

Minimum Requirements
  • Company registered in the Philippines
  • Local substance: office space and resident/local director
  • Paid-in share capital appropriate to the business scope
  • Recent clean criminal record certificates for all key persons
  • Detailed business plan with charts, forecasts, and 3–9 month roadmap
  • Internal risk management and AML/CTF policies aligned with local laws
Licensing Process (Step-by-Step)
  1. Register a Philippine legal entity
  2. Prepare business plan and ownership structure
  3. Draft and submit application letter
  4. Submit full compliance documentation
  5. Receive approval notice and pay fees
  6. Obtain certificate and begin operations
CryptoWisely.io Insight: The Philippines is a substance-first jurisdiction for on/off-ramp, custody, and exchange operations. Expect real local presence, updated police clearances, and a phased regulatory engagement. Well-suited for ASEAN access with clear AML expectations.