The Philippine SEC, US SEC, and Asian Development Bank Join Forces to Fight Crypto-Related Crime
The Philippines Securities and Exchange Commission (SEC) has partnered with its US counterpart and the Asian Development Bank in an effort to combat criminals using cryptocurrencies for fraudulent activities.
The Securities and Exchange Commission (SEC) Philippines collaborating with international organizations to further its mandate of protecting the public from securities fraud and other forms of investment scams.
— SEC Philippines (@SEC_Philippines) September 18, 2023
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IOSCO Workshop Aims to Enhance Crypto Crime Prevention Toolkit
The three institutions recently conducted an International Organization of Securities Commissions (IOSCO) Investigation and Enforcement Training workshop to strengthen their capabilities in investigating crypto-related crimes, such as fraud and scams.
Regulatory Collaboration and Legal Framework Development
In addition to the workshop, the Philippine SEC signed the IOSCO Multilateral Memorandum of Understanding on crypto crime and is working with local lawmakers to develop new legislation aligned with international standards for crypto asset oversight.
