PH SEC Adopts PIC Guidance in Accounting for Cryptoassets
Certified Public Accountants can rely and be guided by such interpretations when performing accounting and audit services for cryptoasset businesses.
Certified Public Accountants can rely and be guided by such interpretations when performing accounting and audit services for cryptoasset businesses.
If a company in the Philippines is not registered to solicit investments here, then they should not solicit investments here.
The Senators admitted that due to the complexity of the subject matter, the recommendation is not to rush drafting a law, but to create a task force composed of the following agencies to study the field.
The Commission encourages the public to submit comments and position papers regarding the draft rules so that it can be improved to better serve the public and every party involved.
“With the high barriers currently proposed, big exchanges where majority of Filipinos trade will have to assess whether registering in the Philippines is worth the trouble, while small exchanges might close down before they can even begin.”
The Bangko Sentral ng Pilipinas (BSP) has advised banks in the Philippines to only deal with licensed virtual currency exchanges (VCEs) and exercise extreme due diligence when doing business with them.
“How much is the initial capitalization requirement to set up a Digital Asset Exchange in the Philippines” and other questions answered in this brief summary of the SEC’s Draft Rules on Crypto Exchanges.
The Securities and Exchange Commission said that the guidelines for initial coin offerings (ICO) and virtual currency exchanges (VCEs) have entered their final review.
SEC: Rigen Marketing is not authorized to solicit investments from the public because they don’t have the license to do so.
Roses 4 U’s scheme is to entice foreign nationals to invest in foreign exchange, commodities trading, bitcoin, cryptocurrencies, stocks, and indices.