The BSP warned against NFTs anew. BSP — The Bangko Sentral ng Pilipinas has again flagged the risks of NFTs (non-fungible tokens) and reminded the public that they should be aware of how play-to-earn games work. Following the theft of USD 600 million worth of digital tokens from a digital ledger used by players of … Read more
SEC issued an advisory against “play-to-earn” games and other non-registered foreign entities. The Securities and Exchange Commission (SEC) recently issued an advisory against “play-to-earn” games and other non-registered foreign entities. In an advisory, SEC encouraged the public to be careful when transacting or dealing with entities or corporations that weren’t licensed or registered in the … Read more
Earnings from online play-to-earn games subject to tax, according to DOF The Department of Finance (DOF) said that earnings from online play-to-earn games, such as Axie Infinity, were subject to tax. With the rise of the play-to-earn phenomenon, NFT gaming guilds and associations have cropped up around the world in order to educate people and … Read more