The SEC Commissioner also clarified whether the period will be extended, as well as the status of other unregistered exchanges, on whether they will be blocked as well by the NTC.
This initiative is part of the SEC’s broader strategy to safeguard investors from potential risks associated with unregulated digital asset platforms.
Get the latest updates in Philippine crypto and blockchain news with our comprehensive weekly roundup for June 5, 2023!
Lee received the Gold Stevie Award for Thought Leader of the Year and was recognized as a FinTech Regulatory and Innovation Leader.
A SEC Commissioner confirmed that they have had the regulatory framework for crypto since last year, but delayed it due to FTX collapse.
SEC is drafting their own measures to create the “best practices in fintech regulation and adopting it in our jurisdiction.”
Ang pagkakaroon ng regulasyon ay hindi nangangahulugan na ating iniendorso ang cryptocurrency bilang legal tender o ‘storage of value’.
“To say that we encourage people to invest in crypto is too strong of a statement for me or anyone to make at this point, but the technology is new, it has a lot of potential but at the same time a lot of risk,” Commissioner Lee seconded.
We talked to Ripple Southeast Asia head about PayID and his thoughts on remittances, interoperability, and central bank digital currencies.
