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.
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.
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.