Philippines to implement framework on crypto assets to combat cross-border tax evasion

MANILA: The Philippines' Department of Finance (DOF) has said the country will implement a framework on crypto-assets to combat cross-border tax evasion and illicit financial flows.

"We need faster and stronger systems for collaboration if we are to beat tax evasion and illicit transactions," Finance Secretary Ralph Recto (pic) said in a statement on Tuesday (June 17).