Sunday, June 16, 2024

The US and the Philippines join forces against cryptocurrency fraud


The Philippines’ Securities and Exchange Commission (SEC) has joined forces with the US SEC and the Asian Development Bank in order to combat crypto fraud.

According to the report, in an effort to elevate their skillsets and fortify their enforcement capabilities, the three organizations orchestrated both an International Organization of Securities Commissions (IOSCO) Workshop and a specialized Investigation and Enforcement Training Workshop. 

The Philippines’ SEC has recently formalized its commitment by endorsing the IOSCO Multilateral Memorandum of Understanding, focusing on combatting cryptocurrency-related crimes.

The collaboration among these organizations marks a significant leap in advancing digital asset governance within the Philippines. The Philippines’ Securities and Exchange Commission (SEC) actively engages with global institutions as part of its commitment to protect the public from securities fraud and various forms of investment deception.


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