Philippine SEC: Plans to launch a regulatory framework for crypto assets and their transactions in the second half of the year

According to Golden Finance, Emilio B. Aquino, chairman of the Securities and Exchange Commission (SEC) of the Philippines, said that the commission plans to launch a regulatory framework for crypto assets and their trading in the second half of this year. According to Business World, the framework aims to protect the interests of Filipinos engaged in cryptocurrency trading. The SEC chairman said that cryptocurrency exchanges targeting Filipinos must obtain the necessary licenses required by Republic Act No. 8799 before commencing operations. Aquino refuted the view that the SEC might target Binance and said that the collapse of FTX was a wake-up call that prompted the securities regulator to take action.