#Axie Infinity Payment

Axie Infinity keeps its popularity growing in the Philippines. Axie Infinity is classified as an NFT game that allows individuals to earn currency from playing the game as they breed, raise, battle, and trade Axie creatures in the marketplace. Axie Infinity became a hot topic when the DOF and BIR clarified that play-to-earn games earnings from platforms similar to Axie Infinity are subject to income tax. Recently, the BSP is also looking into classifying Axie Infinity as OPS like GCash, PayMaya, and other banks. Once the central bank has determined that Axie Infinity players use and exchange SLP Tokens as payment for purchases, it will require Vietnam-based Sky Mavis or its local partner to register with the BSP as an OPS; otherwise, it should stop operating. https://youtu.be/xKgV4V0aq7M Meanwhile, Sky Mavis, the company behind Axie Infinity said in a statement that they look forward to working with the government, and they encourage the Axie community members to abide by the laws of their home countries. Sources: Axie Infinity, Axie Capital, Coindesk Read more in our articles including "Merchants Accepting Axie Infinity's SLP as Payment in the Philippines" and "Asus Transformer Pad Infinity is 1st to use Tegra 4 chip".