The Philippine Securities and Exchange Commission (SEC) has issued a statement to clarify the enforcement of its new Rules on Crypto Asset Service Providers (CASP Rules), which took effect on 5 July 2025.

The advisory reiterates that the rules apply to all entities, both local and foreign, that offer crypto-asset services to people in the Philippines.

The SEC clarified that the CASP Rules do not prohibit cryptocurrency trading or investment. Instead, the regulations require platforms to obtain the appropriate registration and licences before offering their services in the country.

According to the commission, these rules are to protect investors, uphold market integrity, and ensure that all market participants operate on a level playing field.

Under its legal mandate, the SEC will investigate and take action against unregistered entities, which may include measures to limit public access to non-compliant platforms.

The commission stated that it designed these enforcement actions to safeguard the public from risks like fraud, loss of funds, and money laundering. These specific risks often increase when market activity is high.

The SEC encouraged both local and foreign platforms to register and comply with the new rules.

In its advisory, the commission stated that it “recognise[s] the importance of a free, competitive market, but one that is responsibly regulated to protect investors and support the sustainable growth of the crypto industry in the Philippines”.

The public is advised to report any possible violations to the SEC’s Enforcement and Investor Protection Department.

Featured image by wirestock_creators via Freepik.