Just recently, there was supposedly a video showing the burning of what appears to be Philippine banknotes. The Bangko Sentral ng Pilipinas (BSP) didn't approve of the act.
In light of this, the BSP reminded the public that defacing peso bills and coins may lead to jail time.
The BSP explained that, pursuant to Presidential Decree (PD) No. 247, it is "unlawful to willfully deface, mutilate, tear, burn or destroy, in any manner whatsoever, currency notes and coins" that they issued, reports GMA News Online.
The article notes that under PD No. 247, "people who violate the law on damaging peso bills and coins face a fine of not more than P20,000 and a prison sentence of up to five years."