“Technology runs fast, but regulations crawl behind.”
That line succinctly captures the situation of blockchain in the Philippines, but things are changing as regulators, lawmakers and businesses are beginning to move in step. With regulations in place, blockchain is set on an upward trajectory.
SEC CAPSP rules
Earlier this year, the Securities and Exchange Commission (SEC) finalized rules for Crypto Asset Service Providers (CASPs). With the emergence of these rules, anyone wishing to run a crypto exchange or be a wallet provider, custodian, or broker in the Philippines must now secure an official license.
Though these regulations may feel heavy — especially on requirements like capital adequacy, physical office, compliance personnel and robust internal controls — they open doors to earning the SEC badge, a proof of legitimacy.
This change unlocks real opportunities. It makes it easier to collaborate with banks and large corporations. Investors gain confidence, consumers have better protection and the overall market gains stability.
The National Budget Blockchain Bill
The country is taking a step toward transparency with the proposal of the National Budget Blockchain Bill, which would allow the public to track government spending data in real time through a blockchain platform. Just imagine the convenience of accessing information on public spending — no need to wait for those delayed audit reports. That’s real-time transparency for every Juan.
This bill will also open new frontiers. This is an invitation for startups to create (1) applications that visualize and analyze spending data; (2) citizen-driven platforms for monitoring public projects; (3) blockchain wallets and multi-signature authority systems for government agencies; and (4) transparency to pave the way for a profitable market for blockchain.
EU’s MiCAR
On the other side of the globe, the European Union’s (EU) MiCAR (Markets in Crypto-Assets Regulation) is now in force. Any crypto business hoping to serve Europe must obtain this license.
This is a good signal for local firms. With compliance from SEC’s CASP, on the local level, and MiCA standards abroad, local businesses gain global credibility and traction. To international partners and investors, this signals a readiness for international growth. This “dual passport” spells access to both local and international markets.
Blockchain in every Juan’s daily life
The Bangko Sentral ng Pilipinas is also reshaping the financial landscape. Updated frameworks for digital payments and forthcoming rules for stablecoin issuance are paving the way for blockchain in tourism, remittances, and online commerce. With Pagcor’s revision on egames’ regulations, online casinos and digital betting remains politically charged. Still, with better rules in place, legit operators have the confidence to innovate responsibly. And with blockchain’s help — through wallet-based KYC (know your customer), on-chain age verification, anti-money laundering tracking, and transaction monitoring —the industry can improve transparency and earn public trust.
Don’t avoid regulation — use it
For years, the blockchain industry’s default strategy was to evade regulation. But that era is ending. Tomorrow belongs to the Juans who know how to integrate regulations into their strategy—from designing products with the CASP licensing framework, to normalizing standardized on-chain voting, treasury reports and disclosure, to preparing MiCA-compliant documents and internal controls.
The Philippine government’s regulation does not spell the end of blockchain in the country. If anything, it’s paving the way for blockchain 2.0 — a phase where growth happens due to regulations. Every Juan’s heading toward that direction. The question is, are you?