The Philippines delays publishing crypto framework

Regardless of the wave of market failures in 2022, the Philippines’ monetary regulator has determined to not rush a authorized framework on the crypto trade, initially deliberate to be printed in late 2022. Nevertheless, work on the rules is ongoing, and the outcomes may very well be made public this yr.

Cited in a neighborhood media outlet, the chairman of the Philippines Securities and Change Fee (SEC), Emilio Aquino, revealed that earlier deadlines for introducing the crypto framework within the nation had been moved. The regulatory authority was planning to introduce tips for the trade in 2022, nevertheless it held again the initiative to check the explanations behind the collapse of the FTX alternate and guarantee buyers’ safety.

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