In a bid to strengthen Philippines’ digital economy and foster innovation in financial technology, the House of Representatives has introduced a bill that advances the responsible use of cryptocurrency in retail commerce. House Bill No. 4792 or the “Philippine Tokenization and Crypto Adoption Act of 2025” (“Bill“) seeks to: (i) promote responsible blockchain and tokenisation adoption for inclusive economic growth; (ii) promote safe participation in decentralised exchanges (DEX) and decentralised finance (DeFi) through sandboxes; and (iii) encourage voluntary adoption of cryptocurrency in retail commerce, among others. The Bill will also establish the National Council on Digital Assets and Tokenised Investments (“Council“) under the Department of Finance (“DOF“) that will serve as the lead coordinating and oversight body in implementing the law. Under the Bill, the Council shall be composed of government authorities which include DOF and Bangko Sentral ng Pilipinas, and civilians particularly those in the fintech industry, overseas Filipino workers and retail investor representatives. The powers and functions of the Council include drafting of the national tokenisation roadmap and accreditation of tokenisation platforms, stablecoin issuers, and local and foreign exchanges.
Key features of the Bill include allowing eligible entities to participate in the tokenisation as well as providing assets that may be tokenised. The Bill introduces stablecoins, defined as blockchain-issued tokens pegged to a fiat or commodity, which will be recognised as regulated digital assets and classified into (i) flat-backed stablecoins and (ii) real-world asset (RWA)-backed stablecoins. Further, the Bill establishes a framework for the voluntary use of cryptocurrency, stablecoins, and tokenised assets, with the aim of expanding financial choices for citizens and businesses while ensuring transparency, consumer protection, and monetary stability.
Once passed into law, the Bill could position the Philippines as a hub for blockchain innovation and enable it to capture a share of Southeast Asia’s projected US$1 trillion digital economy by 2030. As of writing, the Bill remains pending with Committee on Banks and Financial Intermediaries.
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