The Philippine SEC has released cryptoasset management rules covering disclosure, public offerings, trading, and marketing activities

The Philippine Securities and Exchange Commission (SEC) has introduced a wide range of crypto asset management rules covering disclosure, public offerings, trading, and marketing activities. The regulations are designed to enhance investor protection and promote transparency in the burgeoning digital asset market.
Under the new guidelines, crypto-asset offerings must file a disclosure document with the SEC at least 30 days before any marketing activity or public sale. The document must detail the provider, issuer, key characteristics, risks, and underlying technology of the crypto-asset, as well as clearly state latent risks, including loss of value and limited transferability.
Cryptoassets classified as securities require a registration statement approved by the SEC before they can be offered publicly. Entities that issue or trade cryptoassets must comply with anti-money laundering (AML) laws and SEC reporting requirements. It emphasizes that non-compliance may result in fines, suspension or revocation of licenses.