Draft Philippines Crypto Exchange Rules expected later this month

Asia Regulations The Philippines

The draft cryptocurrency regulations expected to be introduced in the Philippines later this month could define cryptocurrency exchanges as traditional “trading platforms.” Ephyro Luis Amatong, chairman of the country’s Securities and Exchange Commission (SEC) told local reporters.

The SEC has been working together with the Bangko Sentral ng Pilipinas (BSP) – the country’s central bank, on establishing an oversight over the cryptocurrencies market.

“The discussion … [involves] joint cooperative oversight over (cryptocurrency exchanges) engaged in trading.” said the chairman.

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Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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