with the numbers of users of crypto in the Philippines as well as the value of the crypto that are being transacted per year, it is practically impossible for any government that is constantly sourcing for ways to generate revenue to close her eyes to that source.
The problem with the Philippines is that there are plenty of laws, but many of them aren’t properly implemented. That probably includes crypto taxation as well, since most Filipinos don’t even use local platforms registered in the country. Instead, we use Binance, which is technically illegal to operate in the Philippines, yet we can still access it freely.
If the government doesn’t have data from Binance, they have no way of knowing whether we profit or not. So, in the end, it’s just another useless law with poor enforcement.