Philippines SEC lays down rules for crypto service providers

The Philippines’ Securities and Exchange Commission (SEC) has officially released guidelines governing crypto asset service providers (CASPs). Entities offering such services must obtain a license and register before operating in the country. Under the new rules, all CASPs must register as a stock corporation in the Philippines with a paid-up capital of at least PHP100 million ($1.8 million), excluding digital assets.

According to Atty. Paolo Ong, Assistant Director at the SEC, these guidelines aim to support local players and address unregistered entities marketing or inducing the purchase of digital assets. Individuals promoting specific products or platforms, especially fraudulent ones, may face enforcement actions.

The SEC currently does not require licensing for crypto financial advisors, including in digital asset markets.

Sam Boolman | Crypto Enthusiast and Writer

Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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