The post The Philippines Hold Up Crypto Framework Publication appeared first on Coinpedia Fintech News
Despite the market collapses experienced in 2022, the Philippines’ financial authority has decided not to expedite the release of a regulatory framework for the crypto industry, which was originally planned for 2022. Instead, they are currently refining the criteria and expect to disclose the outcomes later this year. According to Emilio Aquino, the SEC Chair of the Philippines, the timeline for implementing the country’s cryptocurrency framework has been adjusted. The regulatory body initially aimed to introduce industry guidelines in 2022. However, they have postponed this plan in order to thoroughly investigate the causes of the FTx exchange failure and prioritize the protection of investors.
