PH SEC Reviewing Final Guidelines for ICO and Virtual Currency Exchanges

Share some Bitpinas love:

(Manila, Philippines) June 13, 2019 – The Securities and Exchange Commission said that the guidelines for initial coin offerings (ICO) and virtual currency exchanges (VCEs) have entered their final review.

Speaking with the Manila Times, SEC Chairman Emilio Aquino said that the guidelines are now underway in part due to increased interest in the space. “We want that out already because these are additional products,” said Chairman Aquino to the local newspaper.

The SEC released draft ICO guidelines last August 2018. The draft guidelines included how tokens are classified, how the assessment will proceed, and what are the rules on registration and exemption. Basically, the draft explains that if the SEC determines that the ICO is not issuing security tokens, then it can proceed. Otherwise, it will have to go through the registration process.

The draft guidelines’ version was released on December 2018, which included inputs from those who submitted their position papers to the Commission. In this new paper, the SEC revised the definition of “blockchain,” now defined as a decentralized, distributed ledger that records transactions in a particular token or tokens. Also, the paper said that an independent escrow agent is not necessary if the token issuer can prove to the Commission that other mechanisms can be employed to satisfy the purposes of such escrow agents.

The SEC never publicly released any draft rules for cryptocurrency exchanges, but from this website’s multiple discussions with members of the blockchain community, it is revealed that many are waiting for this particular draft rules before they launch their own exchanges.

To create the crypto exchange rules, the SEC will be reviewing rules from other countries like Switzerland to serve as possible templates to formulate the countries’ own rules. When completed, these rules will go hand in hand with the Bangko Sentral ng Pilipinas (BSP)’s guidelines for virtual currency exchanges.

This story originally appeared on BitPinas: PH SEC Reviewing Final Guidelines for ICO and Virtual Currency Exchanges

Share some Bitpinas love:
Follow on social and subscribe to our newsletter
Subscribe
Notify of
guest
131 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback

CBD For Dogs

[…]usually posts some pretty intriguing stuff like this. If you are new to this site[…]

trackback

Google

Usually posts some quite interesting stuff like this. If you are new to this site.

trackback

cumming dildos

[…]below youÂ’ll discover the link to some internet sites that we feel you’ll want to visit[…]

mobile homes for sale in westmoreland county pa

[…]Wonderful story, reckoned we could combine a couple of unrelated information, nevertheless really really worth taking a look, whoa did one discover about Mid East has got additional problerms too […]

trackback

Hk mp5 for sale

[…]Every once in a though we opt for blogs that we study. Listed beneath are the latest web sites that we choose […]

trackback

dildo

[…]Here are a few of the sites we recommend for our visitors[…]

trackback

vibrator

[…]The information and facts mentioned within the report are several of the best available […]

trackback

Glock 43x for sale

[…]although internet websites we backlink to below are considerably not related to ours, we feel they are really really worth a go via, so possess a look[…]

trackback

bayan escort pendik

[…]Here is a great Blog You might Obtain Fascinating that we Encourage You[…]

trackback

canadian website

[…]Wonderful story, reckoned we could combine a handful of unrelated data, nevertheless actually really worth taking a appear, whoa did 1 understand about Mid East has got more problerms at the same time […]

trackback

slot online

[…]The details mentioned in the article are a few of the most effective available […]

electric motorbike canada

[…]we came across a cool web page that you just may possibly appreciate. Take a appear for those who want[…]

myths and facts about sex

[…]please check out the web pages we stick to, like this one particular, as it represents our picks in the web[…]

trackback

anal toys

[…]Wonderful story, reckoned we could combine a couple of unrelated information, nevertheless actually worth taking a look, whoa did one understand about Mid East has got much more problerms at the same time […]

trackback

Google

Below you will come across the link to some web sites that we think it is best to visit.

trackback

Gun Shops near me

[…]please take a look at the sites we comply with, including this one particular, because it represents our picks from the web[…]

pegging with a strap on

[…]we prefer to honor many other world-wide-web web sites on the web, even though they arenÂ’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

trackback

sex toy reviews

[…]we prefer to honor lots of other net web pages around the web, even though they arenÂ’t linked to us, by linking to them. Underneath are some webpages worth checking out[…]

trackback

rechargeable vibrator

[…]Every after inside a whilst we opt for blogs that we study. Listed below are the most recent websites that we choose […]

trackback

batman pinball machine

[…]below you will find the link to some sites that we think you should visit[…]

trackback

Cannabis Oil

[…]please take a look at the sites we follow, which includes this one, because it represents our picks in the web[…]

trackback

PARROTS FOR SALE

[…]always a significant fan of linking to bloggers that I adore but do not get quite a bit of link appreciate from[…]

trackback

Best software

[…]just beneath, are a lot of entirely not related internet sites to ours, even so, they may be surely really worth going over[…]

DUBBAL STAGE PULVERIZER

[…]below you will come across the link to some websites that we believe you ought to visit[…]

trackback

kratom capsules

[…]here are some hyperlinks to web sites that we link to since we consider they’re worth visiting[…]

Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]