Philippines SEC teams up with US counterpart to combat crypto fraud
Cointelegraph
20 Sep 2023 12:00 AM
The Philippine SEC has teamed up with the U.S. SEC and the Asian Development Bank to clamp down on increasingly sophisticated crypto and traditional financial scams. ...
- The Philippines Securities and Exchange Commission (SEC) has partnered with the US SEC and the Asian Development Bank to combat cryptocurrency-related fraud and financial crimes.
- They conducted an International Organization of Securities Commissions (IOSCO) Investigation and Enforcement Training workshop to enhance their capabilities in preventing fraud and scams in the crypto space.
- The Philippine SEC aims to strengthen its enforcement personnel's ability to investigate securities-related crimes, including insider trading, market manipulation, off-market fraud, and crypto scams.
- The regulator signed the IOSCO Multilateral Memorandum of Understanding on crypto crime and seeks to enact new laws aligned with IOSCO standards.
- This collaboration represents progress in the oversight of digital assets in the Philippines.
The article highlights the efforts of the Philippines SEC, US SEC, and Asian Development Bank to combat cryptocurrency-related fraud and financial crimes. The tone is positive, emphasizing the collaboration and the aim to strengthen enforcement capabilities.
You May Ask
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