The Philippines’ Securities and Exchange Commission said on Monday it is crafting rules to regulate cryptocurrency transactions to protect investors and reduce the risk of fraud.
The regulation, which will cover issuance and registration of cryptocurrencies, is expected to be finalized this year, said Emilio Aquino, SEC commissioner in charge of enforcement and investor protection, according to Reuters.>>> Link for the source
https://t.co/QnDpl32hXoThey said on the news that they want to regulate cryptocurrency transactions and investments to protect the investors, and investment on cryptocurrency should be treated as same as stock investment. However, the real truth behind this is that they also wanted to gain something from this. They will start regulating it, and then taxing income from traders and investors. Let's just hope that cryptocurrency will not be banned in Philippines.