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Philippine SEC Collaborates with US Counterpart and Asian Development Bank to Combat Crypto-Related Crimes

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. The three institutions conducted an IOSCO Investigation and Enforcement Training workshop to enhance their fraud prevention toolkit.

The Philippine SEC also signed the IOSCO Multilateral Memorandum of Understanding on crypto crime and sought to strengthen its enforcement powers through new laws. Despite the country's cautious approach to crypto, it remains an attractive destination for digital assets, with over 11.6 million Filipinos owning them.

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