Philippines Regulator to Unveil Cryptocurrency Regulatory Framework in Second Half of 2024
The Philippines Securities and Exchange Commission (SEC) plans to unveil a regulatory framework for crypto assets and their trading in the second half of the year, according to the organization's chairman, Emilio B. Aquino
Emilio B. Aquino, chairperson of the Securities and Exchange Commission in the Philippines, announced plans to introduce a regulatory framework for cryptocurrency in the latter half of 2024. Aquino expressed optimism that tech giants Apple and Google will promptly comply with the SEC's request to remove Binance's applications from their app stores.
Safeguarding the Interests of Filipino Cryptocurrency Users
The Philippines Securities and Exchange Commission (SEC) plans to unveil a regulatory framework for crypto assets and their trading in the second half of the year, according to the organization's chairman, Emilio B. Aquino. As reported by Business World, the framework aims to safeguard the interests of Filipinos engaged in cryptocurrency trading.
Aquino's announcement came just weeks after the SEC intensified its actions against Binance. As reported by Bitcoin.com News, the SEC requested that tech giants Apple and Google remove the cryptocurrency exchange's applications from their respective app stores. The SEC argues that Binance is not licensed to offer its services to residents of the Asian country.
Regarding the progress of its request for the removal of Binance apps, the SEC chairperson noted that Apple and Google have previously acted swiftly, and the hope is that they will do the same with this latest request.
