STRONGER FINANCIAL REGULATIONS: SEC Issues Draft To Impose Stricter Penalty vs Scammers, Ponzi Schemes
The draft aims to impose on scammers a fine of ₱50k to ₱10m for each investment fraud and at least ₱10k per day of continuing violation.
Philippines’ Insurance Commission Issues Warning on Cryptocurrencies
The public warning is in lieu of the BSP and SEC’s efforts to remind the public to exercise extreme caution when dealing with cryptocurrencies.