【Philippines SEC Releases Rules for Crypto Asset Management, Covering Disclosure, Public Offering, Trading, and Marketing Activities】According to Golden Finance, the Securities and Exchange Commission (SEC) of the Philippines has issued comprehensive rules for crypto asset management, covering disclosure, public offerings, trading, and marketing activities. These regulations aim to enhance investor protection and promote transparency in the burgeoning digital asset market. Under the new guidelines, crypto asset issuers must submit disclosure documents to the SEC at least 30 days prior to any marketing activity or public sale. This document must detail the provider of the crypto asset, the issuer, key features, risks, and underlying technology, as well as clearly state potential risks, including value loss and limited transferability. Crypto assets classified as securities must obtain a registration statement approved by the SEC before public offering. Entities issuing or trading crypto assets 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.
