Stablecoins, mainly USDC, are already flowing under the radar, especially through SukuPay's integration with Banco Industrial for remittances. Crypto isn't legal tender, but a draft bill (No. 6538) is moving through Congress aiming to legitimize digital assets: it'd allow voluntary crypto transactions, require registration of platforms with the Superintendence of Banks (SIB), impose cybersecurity and KYC rules, and set tax treatment including exemptions for small personal transactions.
