Trading tournaments in Philippines

As of mid-2025, the nine active BSP-licensed VASPs include Coins.ph (Betur Inc.), PDAX (Philippine Digital Asset Exchange), Maya Philippines, Moneybees Forex Corp, Bloomsolutions, SurgePay (Direct Agent 5), TopJuan, XenRemit, and Union Bank of the Philippines. PDAX additionally powers GCash's GCrypto product.

BSP introduced a moratorium on granting new VASP licenses in 2022 and has extended it since. The regulator cites concerns about consumer protection, financial integrity, and cybercrime risks. The moratorium effectively limits new entrants to the licensed set above; existing VASPs continue operating under their issued licenses.

Generally not legally. BSP and SEC have blocked over 50 unregistered crypto exchanges in past enforcement actions including major offshore platforms. Bybit, OKX, Binance.com lack BSP VASP licenses and Philippines-resident tournament eligibility on these platforms is restricted. Always check the specific event's terms before entering.

Prize income is generally reportable under Philippine personal-income-tax law. The exact treatment (regular income vs prize income vs business income) depends on the nature and recurrence of the activity. Crypto-asset gains have separate but evolving treatment. Consult a Philippine accountant for amounts above modest thresholds.

A multi-asset trading competition spanning PSE stocks, crypto, and U.S. stocks, with prize pools historically around PHP 600,000 in total. It's the most-cited recurring tournament in the Philippines and the primary anchor for retail competitive-trading activity.