New Regulatory Framework for Digital Asset Token Offering Introduced in Philippines
Cointelegraph
Published Feb 05, 2019 23:47
Updated Feb 06, 2019 00:36
The Philippines has introduced a new set of rules governing Digital Asset Token Offering (DATO), according to a press release published by the Asia Blockchain and Crypto Association (ABACA) on Feb. 4.
The new regulations released by the country’s Cagayan Economic Zone Authority (CEZA) are reportedly designed to regulate the cryptocurrency industry and protect investors, affecting such issues as the acquisition of crypto assets, including utility and security tokens. The CEZA thus becomes the main regulator, while the ABACA has been designated as a self-regulatory organization (SRO) to enforce the new framework.
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Written By: Cointelegraph
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