Philippines Roundup: Crypto sees massive gains, world health assembly leadership, Brazil poultry imports to be halted
Crypto sees massive gains
The Philippines is quickly becoming a global hotspot for crypto wealth, ranking 20th in the world for average crypto holdings, according to the Crypto Friendly Cities Index 2025 by Multipolitan. Filipino crypto owners now average $14,194.46 (PHP790,000) in digital assets. Originally fueled by play-to-earn (P2E) gaming, most notably Axie Infinity, which once had Filipinos make up 40% of its global user base, crypto activity in the country has since evolved. The Philippines is now part of a broader financial shift beyond gaming and speculation. In Southeast Asia, the country follows Singapore (5th globally), where holders average over $85,000, and trails Malaysia (18th) and Vietnam (19th). Slovenia, Cyprus, and Hong Kong are globally on the list, driven by concentrated crypto ownership and strong regulatory environments.
Philippines to lead World Health Assembly
For the first time in history, the Philippines will preside over the World Health Assembly (WHA), the Department of Foreign Affairs (DFA) announced. “The Philippines is elevating its role in global health diplomacy by serving as President of the World Health Assembly this year,” the DFA stated.
Brazil poultry imports to be halted
The Philippines will temporarily halt poultry imports from Brazil following the country’s first confirmed bird flu outbreak at a commercial farm, Agriculture Secretary Francisco Tiu Laurel Jr. confirmed. Brazil, the world’s top poultry exporter and the Philippines’ main supplier, especially of mechanically deboned meat (MDM), has seen nearly 7,400 breeders die in Rio Grande do Sul due to the outbreak. Several nations, including China and Mexico, have already imposed bans. While the ban is expected to impact local MDM supply used in processed foods like hot dogs, alternative suppliers such as Poland, Russia, and Germany may fill the gap. The Department of Agriculture plans to fast-track regionalisation to limit the ban to affected Brazilian states. Brazil's animal health authorities are taking necessary measures and remain transparent with trade partners.
Violence and 'credible' vote-buying claims mar Philippines midterm polls — EU observers
The Philippines’ May 12 midterm polls saw high turnout and active media coverage but were marred by vote-buying, political dynasties, and deadly violence, EU observers reported. EU EOM chief Marta Temido highlighted "credible indications" of vote-buying and "unacceptable levels" of election-related violence, warning of deep-rooted democratic challenges despite voters' strong civic engagement. The Commission on Elections was criticised for only partially addressing these issues, despite stricter regulations.
Philippines gears up to join new trans-Pacific trade network
The Philippines will formally apply to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the first half of 2025, giving it a six-week window to finalise its bid, the Department of Trade and Industry (DTI) announced. The timeline was shared with Chilean officials during the APEC Trade Ministers’ Meeting in Jeju on May 15. Joining the CPTPP is part of the Philippines’ broader strategy to expand trade ties and access new markets. The CPTPP evolved from the original Trans-Pacific Partnership (TPP), which the U.S. exited in 2017 under President Trump.
