Republic Act No. 11293 or Philippine Innovation Act was enacted in line with the State’s policy to foster innovation as a vital component of national development and sustainable economic growth. It was principally authored and co-sponsored by Senate President Pro Tempore Loren Legarda, who aims to create an efficient national innovation system that shall be implemented in all areas of governance in the country. Fostering innovation in the country may be one of the key ingredients to faster economic growth and to encourage global competitiveness among Filipinos.

According to the Bangko Sentral ng Pilipinas, cryptocurrency is a type of Virtual Currency that uses cryptography – a method of storing and transmitting data in unreadable form so that only the intended receivers can read and process it. This method allows cryptocurrency transactions to be carried out in a decentralized manner by a group of users.
Among the most popular cryptocurrencies in the Philippines are Bitcoin, XRP, Litecon, among others.

When it comes to starting an export business as an MSME, the initial step generally starts at registering with the Client Profile Registration System (CPRS) of the Bureau of Customs. Successfully registered exporters are then required to fill out their Export Declarations through the E2M customs system. MSMEs which want or need assistance in processing their registration as exporters may seek aid from Negosyo Centers.

(Customs Memorandum Order Nos. 39-2008, 49-2010, 54-2010, and 7-2012; Sec. 4, Republic Act No. 10644)

Under the Customs Modernization and Tariff Act (CMTA) and Customs Administrative Order (CAO) 02-16, imported goods with “De Minimis value” are considered imports of “negligible amount”, and are thus duty and tax-free, and also entitled to immediate release from customs.

Upon the effectivity of the said laws, the De Minimis value of imports went from ₱10 to ₱10,000. The increased threshold means that importers of goods amounting to less than ₱10,000 need not worry about paying for additional costs on duties and taxes.

On November 22, 2024, the Supreme Court En Banc has approved The Rules on Unified Legal Aid Service (ULAS Rules) which mandates covered lawyers to render at least 60 hours of pro bono legal aid every three years in favor of indigent Filipinos.

In the Philippines, parties are allowed to offer electronic documents as evidence in civil, criminal, administrative, and quasi-judicial cases. When parties offer such forms of evidence, the Rules on Electronic Evidence apply. Notably, before an electronic document can be admissible in evidence, it must first be authenticated in the manner prescribed by Rule 5 of the Rules on Electronic Evidence.

Article 291 of the Revised Penal Code defines Revealing Secrets with Abuse of Office which punishes a manager, employee, or servant if he learns the secrets of his principal or master in such capacity, and he reveals such secrets.

Republic Act (RA) No. 11127 or the National Payment Systems Act of 2020 was enacted in view of the State’s objectives to promote, through the Bangko Sentral ng Pilipinas (BSP), the safe, secured, efficient and reliable operation of payment systems in order to control systemic risk and provide an environment conducive to the sustainable growth of the economy. According to the BSP, RA No. 11127, or the National Payment Systems Act (NPSA), provides a comprehensive legal and regulatory framework which supports the aforesaid objectives of the State.

In the Philippines, employers are obligated to pay their employees only by means of legal tender, or in certain conditions, by way of check or money order.
When it comes to digital payments, the Department of Labor and Employment has released a Labor Advisory which encouraged and enabled all private establishments to “timely pay wages and other monetary benefits through transaction accounts” such as e-wallets because of the advantages in terms of “safety, security, and financial inclusivity.”
(Art. 102, Labor Code; Labor Advisory No. 16).