The Philippines delays publishing crypto framework By Cointelegraph
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Despite the wave of market failures in 2022, the Philippines’ financial regulator has decided not to rush a legal framework on the crypto industry, initially planned to be published in late 2022. However, work on the guidelines is ongoing, and the results could be made public this year.
Cited in a local media outlet, the chairman of the Philippines Securities and Exchange Commission (SEC), Emilio Aquino, revealed that previous deadlines for introducing the crypto framework in the country were moved. The regulatory authority was planning to introduce guidelines for the industry in 2022, but it held back the initiative to study the reasons behind the collapse of the FTX exchange and ensure investors’ protection.
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Despite the wave of market failures in 2022, the Philippines’ financial regulator has decided not to rush a legal framework on the crypto industry, initially planned to be published in late 2022. However, work on the guidelines is ongoing, and the results could be made public this year.
Cited in a local media outlet, the chairman of the Philippines Securities and Exchange Commission (SEC), Emilio Aquino, revealed that previous deadlines for introducing the crypto framework in the country were moved. The regulatory authority was planning to introduce guidelines for the industry in 2022, but it held back the initiative to study the reasons behind the collapse of the FTX exchange and ensure investors’ protection.
Continue Reading on Coin Telegraph
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