As the cryptocurrencies gained popularity and acceptance among people, financial regulators were also keen to scrutinize the burgeoning asset class. Many regulators across the countries believe that given the volatility, crypto assets pose a threat to the traditional financial system and to retail investors. Given the skepticism, they often try to bring these assets within jurisdiction and control over the decentralized financial system intending to safeguard the industry.
Recently a financial regulator in the Philippines is reported to make similar efforts within new draft rules. Philippines Securities and Exchange Commission (SEC) is looking for ways to have authority over cryptocurrencies. In addition, it will also be taking over the control of the local crypto industry.
As reported, the securities regulator put forward for public comment draft rules relating to financial products and services which also cover cryptocurrencies and digital financial products.
SEC ກ່າວໃນຖະແຫຼງການສະບັບນຶ່ງວ່າ ຮ່າງກົດລະບຽບຈະປະຕິບັດກົດໝາຍທີ່ໄດ້ລົງນາມໃໝ່ ແລະໃຫ້ມັນ "ສ້າງກົດລະບຽບ, ການເຝົ້າລະວັງ, ການກວດກາ, ການຕິດຕາມຕະຫຼາດ ແລະອຳນາດການບັງຄັບໃຊ້ເພີ່ມເຕີມ."
The guidelines expand the definition of a security to include “tokenized securities products” or other financial products using blockchain or distributed ledger technology (DLT).
Other financial products, including digital financial products and services relating to those accessed and delivered through ດິຈິຕອນ channels along with their providers, will also come under the SEC’s remit.
ຄວາມສາມາດໃນການບັງຄັບໃຊ້ລະບຽບຫລັກຊັບແມ່ນຂະຫຍາຍເຊັ່ນດຽວກັນ. SEC ຈະສາມາດຈໍາກັດຜູ້ໃຫ້ບໍລິການຈາກການເກັບດອກເບ້ຍ, ຄ່າບໍລິການ, ຫຼືຄ່າບໍລິການຫຼາຍເກີນໄປ.
ເຈົ້າຫນ້າທີ່ຄວບຄຸມຍັງມີສິດທີ່ຈະຕັດສິດຫຼືໂຈະຜູ້ອໍານວຍການ, ຜູ້ບໍລິຫານຫຼືພະນັກງານອື່ນໆທີ່ພົບເຫັນວ່າລະເມີດກົດຫມາຍ. ມັນຍັງສາມາດລະງັບການດໍາເນີນງານທັງໝົດຂອງບໍລິສັດໄດ້.
ກົດຫມາຍທ້ອງຖິ່ນອະນຸຍາດໃຫ້ SEC ສ້າງກົດລະບຽບຂອງຕົນເອງເພື່ອນໍາໃຊ້ນິຕິກໍາຢູ່ໃນເຂດອໍານາດຂອງຕົນ, ທະນາຄານກາງຂອງຟີລິບປິນແລະຜູ້ຄຸ້ມຄອງປະກັນໄພຂອງປະເທດຍັງອະນຸຍາດໃຫ້ສ້າງກົດລະບຽບເພື່ອເສີມສ້າງກົດຫມາຍທີ່ກ່ຽວຂ້ອງ.
ການພັດທະນາຫລ້າສຸດຊີ້ໃຫ້ເຫັນເຖິງການສືບຕໍ່ການປາບປາມຢ່າງຫນັກຂອງຜູ້ຄວບຄຸມກ່ຽວກັບ cryptocurrencies.
In late December 2022, the SEC warned the public against using unregistered exchanges that were operating within the country claiming a number of exchanges were “unlawfully allowing” Filipinos to access their platforms.
Source: https://www.thecoinrepublic.com/2023/01/30/philippines-security-and-exchange-commission-seeking-to-regulate-crypto/