The Philippines Financial Authorities Outline ICO Rules

Asia The Philippines

In a recently released 37-page long document The Philippine Securities and Exchange Commission outlines its rules for ICOs.

According to the paper, those planning to conducts ICOs in the Philippines will not have to apply for approval with the Commission at least 90 days before the project’s launch.

The application process will require the ICO issuer to submit a detailed explanation of the company’s operations, fees structure and more, as well as an independent legal option stating that the proposed token Is, in fact, a utility token and not a security.

About the author

Mark Knowles

Mark Knowles

Coinlaw Multi-Jurisdiction Blockchain News
Mark Knowles is the Executive Editor of coinlaw.io
With more than a decade of experience as a journalist and editor, Mark has now turned his focus to the blockchain and cryptocurrency revolution that is currently reshaping the global economy. As Executive Editor at Coinlaw Mark is working to create a website that is a hub for the international crypto community to find the latest legal news, legislative changes and expert opinion from across the industry. Contact him at [email protected] or through mobile on +66 (0) 98 705 2716.

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