The Philippine Securities and Exchange Commission submits a new draft covering the regulation of digital products and cryptocurrencies
According to ChainCatcher news, local media in the Philippines, the Manila Bulletin, reported that the Securities and Exchange Commission (SEC) of the Philippines has drafted the Implementing Rules and Regulations (IRR) of Republic Act No. 11765 and the Financial Products and Services Consumer Protection Act (FCPA), and has begun soliciting public opinions. This includes digital products and cryptocurrencies, expanding the definition of securities to include "tokenized securities products" or other financial products that use blockchain or distributed ledger technology (DLT). Additionally, products and services related to digital financial products accessed and delivered through digital channels will also fall under the jurisdiction of the SEC. (Source link)
