The post Philippine Crypto Crackdown: New SEC Rules Spark Major Buzz appeared first on Coinpedia Fintech News
The Philippine Securities and Exchange Commission (SEC) has shared a draft of its proposed “Crypto-Assets Service Providers (CASP) Rules.” These rules aim to regulate the fast-growing cryptocurrency market in the country. Meanwhile, the SEC is inviting public feedback to finalize the regulations, which focus on making crypto activities safer and more transparent.
Aiming for Transparency and Security
The proposed CASP Rules define crypto-assets as digital representations of value powered by distributed ledger technology. However, these rules aim to regulate trading, custody, public offerings, and marketing activities associated with cryptocurrencies.
Service providers are required to register with the SEC and obtain necessary licenses, ensuring compliance with the Financial Products and Services Consumer Protection Act (FCPA).
For public offerings, companies m
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