Other financial products, including digital financial products and services relating to those accessed and delivered through digital channels along with their providers, will also come under the SEC’s remit.The ability to enforce securities regulations is similarly expanded. The SEC would be able to restrict service providers from collecting excessive interest, fees, or charges.
The regulator would also have the power to disqualify or suspend directors, executives or any other employee found to be in violation of the laws. It could also suspend a firm's entire operation. Local laws allow the SEC to create its own rules for applying legislation in its jurisdiction, the central bank of the Philippines and the country’s insurance regulator is also allowed to create rules to supplement related laws.The latest development marks a continuation of the regulator's heavy crackdown on cryptocurrencies.
$ACH AlchemyPay
According to a Jan. 25 report in a local media outlet, the securities regulator put forward for public comment draft rules relating to financial products and services, which also cover cryptocurrencies and digital financial products.
Playing 'unbelievers' just to take control over the things they can't
It's not even 10 minutes since btc has started retracing and your bots are already pushing out negative news.
If done the right way, it can be great for the industry. If not, it can significantly hamper the growth. The question always is- how much regulation is enough.
Oh damn not the Filipino’s