Philippines SEC Introduces Stricter Crypto Regulations to Foster Market Integrity

The Philippines Securities and Exchange Commission (SEC) has implemented stringent new regulations for crypto asset service providers (CASPs), effective June 12. The framework mandates a PHP 100 million minimum capital requirement, compulsory AML reporting, and physical office presence for licensed operators. Firms must submit detailed disclosures—including ownership structures and risk profiles—at least 30 days before marketing activities commence.

Smaller players gain a pathway to compliance through a tiered application process, though all entrants face a PHP 50,000 filing fee and recurring revenue-based supervision charges. The SEC and AML Council will jointly enforce KYC protocols, investor access equity, and operational transparency. Non-compliance penalties remain unspecified beyond the May 30 draft''s preliminary provisions.

Market analysts interpret the MOVE as a foundational step toward institutional crypto adoption in the Philippines. By filtering out undercapitalized actors while preserving market accessibility, the rules aim to balance innovation with consumer protection—a template increasingly mirrored across emerging markets.