cryptofamily

The Securities and Exchange Commission Philippines shared a draft of its cryptocurrency regulations framework.

According to the recently shared document, the published regulatory draft is titled “SEC Rules on Crypto-Assets Service Providers (CASP Rules).” The framework covers a range of crypto trading activities, including the requirements necessary to get an SEC-issued license, market activities, and public offerings.

The SEC Philippines emphasized the importance of creating a regulatory framework for cryptocurrency, as the nation has seen rapid growth in the sector.

If a registered firm is thought to have violated the rules outlined in the framework, the SEC will conduct an investigation into the crypto firm’s business dealings and daily operations to detect any wrongdoings. Sanctions include fines, a cease and desist order, and revocation of the CASP license.

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Crypto enthusiast passionate about technologies at the forefront of development. Happy to have same people around me