The Philippines has released comprehensive regulations for the supervision of crypto assets, covering disclosure, public offerings, trading, and marketing activities

ChainCatcher news, the Philippine Securities and Exchange Commission (SEC) has introduced comprehensive regulations for cryptocurrency asset management, covering disclosure, public offerings, trading, and marketing activities. These regulations aim to enhance investor protection and promote transparency in the burgeoning digital asset market.

According to the new guidelines, cryptocurrency asset issuers must submit disclosure documents to the SEC at least 30 days prior to any marketing activities or public sales. This document must detail the provider of the cryptocurrency asset, the issuer, key features, risks, and underlying technology, as well as clearly state potential risks, including value loss and limited transferability.

Cryptocurrency assets classified as securities must obtain a registration statement approved by the SEC before public offering. Entities issuing or trading cryptocurrency assets must comply with anti-money laundering (AML) laws and SEC reporting requirements. It emphasizes that non-compliance may result in fines, suspension, or revocation of licenses. (Crowdfund Insider)