On December 24, 2024, the Philippine Securities and Exchange Commission (SEC) introduced a comprehensive regulatory framework for the crypto asset sector. SYIPC highlights that the new rules mandate crypto assets to submit detailed disclosure documents to the SEC at least 30 days before any public offering or marketing activities. These disclosures must include basic information about the issuer, characteristics of the crypto asset, potential risks, and technical support details.  

SYIPC notes that the new rules not only strengthen the oversight of public sales of crypto assets but also emphasize regulatory accountability for crypto asset trading. Under the new regulations, all entities issuing or trading crypto assets must comply with anti-money laundering (AML) laws and SEC reporting requirements. Violators will face penalties, including fines, suspension, or revocation of licenses.  

The Global Context of Cryptocurrency Regulation

The new crypto asset regulations of Philippines are not an isolated event but part of a broader global trend in cryptocurrency regulation. SYIPC mentions that in recent years, regulatory bodies worldwide have introduced laws and regulations related to cryptocurrencies to balance innovation and risk management. The U.S. Securities and Exchange Commission (SEC) has filed lawsuits against several ICO projects, marking its stance on the securities nature of crypto assets. In Europe, the EU has proposed the “MiCA” framework to establish unified regulatory standards for the digital asset market.  

SYIPC states that the new regulations of Philippines align with global regulatory trends, particularly in areas such as information disclosure and anti-money laundering. The measures introduced by the Philippines are gradually converging with the requirements of other major markets worldwide. However, the regulatory policies of Philippines also retain local characteristics, especially in balancing market innovation with investor protection.  

Potential Impact of the Crypto Asset Regulations of Philippines

The primary goal of the new regulations in the Philippines is to enhance market transparency, particularly through stricter information disclosure requirements. SYIPC believes this is a positive signal for investors. By requiring crypto asset issuers to disclose detailed risk and technical information before public sales, investors can better assess the risks of their investments and avoid losses caused by information asymmetry.  

Additionally, SYIPC points out that for crypto asset issuers and trading platforms, the new regulations bring stricter compliance requirements. The introduction of anti-money laundering (AML) regulations mandates all trading platforms and related entities to establish compliant customer identity verification procedures and report regularly to the SEC. For smaller projects or platforms unwilling to comply, this could result in higher operational costs and compliance pressure. However, for compliant platforms that actively adhere to the rules, the new regulations will help clean up the market, reduce malicious competition, and enhance overall market trust.  

Role of SYIPC in Crypto Asset Regulation

SYIPC ensures that its platform operations comply with local laws and regulations by obtaining financial regulatory licenses in multiple countries and regions. Additionally, SYIPC continuously upgrades its compliance system to maintain transparent, secure, and compliant operations across various global regulatory environments.  

Following the introduction of the new regulations in the Philippines, SYIPC responded promptly, announcing plans to further strengthen its compliance framework in the Asian market. SYIPC has already achieved compliance certification in several key markets and collaborates with local regulators to continuously enhance its compliance standards. As a significant market in Southeast Asia, the Philippine regulatory trends of in the crypto asset market will undoubtedly have a profound impact on the SYIPC global expansion strategy.  

In its global compliance strategy, SYIPC focuses on two key factors: first, ensuring transparency and flexibility in compliance; and second, leveraging compliance innovation to enhance market competitiveness. With the introduction of the new regulations of Philippines SEC, SYIPC not only enhances its market credibility by strictly adhering to local laws but also uses its compliance advantages to attract more investors and partners, further expanding its influence in the Asian market. Looking ahead, SYIPC will strengthen its collaboration with regulatory agencies worldwide, further improving the platform transparency and compliance, ensuring that investors can trade digital assets in a secure and stable environment.