RATE Group | Philippine SEC Will Soon Release ICO And Cryptocurrency Exchange Rules
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Philippine SEC Will Soon Release ICO And Cryptocurrency Exchange Rules

04 Sep Philippine SEC Will Soon Release ICO And Cryptocurrency Exchange Rules

Posted at 22:32h in Cryptocurrency News by

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September 4, 2018 8:14 PM

The island country is making further headway on cryptocurrency regulation.

The Philippines’ Securities and Exchange Commission (SEC) recently indicated that cryptocurrency exchanges may be regulated as trading platforms, according to a September 3 report from The Manila Times. SEC Commissioner Ephyro Luis Amatong told the publication that the commission expects draft rules to be released by the end of next week. In preparing these guidelines, the SEC is reviewing the cryptocurrency exchange regulations that exist in Australia and Switzerland as potential templates.

The SEC noted that it will release the final version of its ICO rules next week as well. ETHNews reported early last month that the commission had issued a draft outlining such regulations, stipulating that an entity wanting to hold an ICO must file an initial assessment request so that the SEC can determine whether the coin to be issued is a security or not. The issuer would then have to register…

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