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Peer to peer trading in the Philippines

Legal through registered platforms

Peer to peer crypto trading is legal in the Philippines, best done through a BSP registered marketplace, with gains taxable.

    As of March 2026
    Last reviewed March 7, 2026
  

This is general information, not legal, tax, or financial advice. It names the regulator and the as of date so you can verify the current position with the official source before acting.

Quick answer

Peer to peer crypto trading is legal in the Philippines as of March 2026. There is no prohibition on individuals trading directly, while platforms that facilitate peer to peer exchange for the public are expected to register with the Bangko Sentral ng Pilipinas (BSP) as virtual asset service providers. Access to Binance, including its peer to peer service, has been restricted since 2024. The Bureau of Internal Revenue (BIR) taxes realised gains.

Is peer to peer legal here

Peer to peer crypto trading is legal in the Philippines as of March 2026. Two individuals can agree to exchange crypto directly, and there is no law prohibiting it. The regulated layer applies to platforms that facilitate peer to peer exchange for the public. Under the Bangko Sentral ng Pilipinas (BSP) rules on virtual asset service providers, a business that matches buyers and sellers, holds funds, or provides escrow is expected to register and operate under supervision.

Using a registered marketplace

The safest compliant route is a peer to peer or marketplace feature operated by a platform registered with the BSP, such as the registered providers that serve Philippine users. A registered platform applies identity verification, can provide escrow, and operates under the anti money laundering framework, which reduces counterparty and fraud risk compared with an unsupervised direct trade. We name registered providers factually, not as recommendations, and you should confirm a platform appears on the current BSP register before trading.

Restricted platforms

Availability of peer to peer trading is shaped by which platforms can operate. Access to Binance, including its peer to peer marketplace, has been restricted in the Philippines since 2024. The SEC issued an advisory against Binance in November 2023 and in March 2024 asked the National Telecommunications Commission (NTC) to block access, after which telecommunications providers blocked its web pages and the app was removed from local app stores. We do not link to platforms that are not registered to serve Philippine users.

Tax and record keeping

Peer to peer trades are not exempt from tax. The Bureau of Internal Revenue (BIR) assesses crypto income under existing rules as of March 2026, so a gain realised when you sell crypto peer to peer can be taxable. There is no crypto specific statute, so keeping a clear record of each trade, including the peso value and the counterparty, supports an accurate return.

This is general information, not tax advice. The Philippines has no crypto specific tax law as of March 2026, so confirm how peer to peer trades are assessed with the Bureau of Internal Revenue or a qualified tax professional before filing.

Trade peer to peer compliantly

Compare available exchanges

Use a registered platform with a supervised peer to peer or marketplace feature to serve Philippine residents. Compare the registered, available providers and how to sign up compliantly. We show only registered platforms.

Compare exchanges available in the Philippines

Frequently asked questions

Is peer to peer crypto trading legal in the Philippines?

Yes. Peer to peer crypto trading is legal in the Philippines as of March 2026. There is no prohibition on individuals trading crypto directly. Platforms that facilitate peer to peer exchange for the public are expected to register with the Bangko Sentral ng Pilipinas as virtual asset service providers.

Is Binance peer to peer available in the Philippines?

Access to Binance, including its peer to peer service, has been restricted in the Philippines since 2024, when the Securities and Exchange Commission asked the National Telecommunications Commission to block it and its app was removed from local stores. Use a registered platform instead.

Is peer to peer trading taxed in the Philippines?

Gains realised through peer to peer trading can be taxable, and the Bureau of Internal Revenue assesses crypto income under existing rules, as of March 2026. There is no crypto specific statute, so verify the treatment with the BIR or a tax professional and keep records of each trade.

How do I trade peer to peer safely in the Philippines?

Use a platform registered with the Bangko Sentral ng Pilipinas that offers a supervised peer to peer or marketplace feature, verify the counterparty and payment, and keep records, as of March 2026. Direct trades outside a registered platform carry counterparty and fraud risk.

Can I use cash for peer to peer crypto trades?

There is no specific ban on cash settled peer to peer trades in the Philippines as of March 2026, but anti money laundering rules apply to registered platforms, and large or unusual cash activity can raise scrutiny. Trading through a registered provider keeps the activity inside the supervised system.

Regulator and sources

Peer to peer trading platforms in the Philippines are supervised by the Bangko Sentral ng Pilipinas (BSP) as virtual asset service providers, with the Securities and Exchange Commission (SEC) covering crypto asset service providers. The SEC and the National Telecommunications Commission (NTC) carried out the 2024 blocking of Binance. The Bureau of Internal Revenue (BIR) assesses tax. Confirm a platform with the regulators.

Rules change. Registrations are added and withdrawn, enforcement against unregistered platforms continues, and the availability of a peer to peer feature can change. Confirm a platform appears on the current BSP register and check the BIR tax position before you act.

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