The rules target crypto-asset service providers (CASPs), firms that issue, trade, market, or facilitate transactions involving cryptocurrencies, tokens, digital wallets, or blockchain-based platforms.
Violators could face steep penalties of up to P10 million in fines or five years in prison for noncompliance.
The SEC now requires all crypto assets being sold to the public to be registered and backed by detailed disclosures about risks, technology, and key individuals involved.
CASPs must also set up physical offices, report daily trading activity, and keep customer assets separate from company funds. Marketing crypto services without SEC approval, even through social media, is banned unless it’s purely educational.
The rules cover everything from initial coin offerings to offshore outsourcing, which must meet strict data and transparency standards.
