Philippines Senator Proposes Harshers Penalties for Cryptocurrency Crimes..
The proposed bill, which will need to be passed into law before any stiffer penalties are imposed, comes at a time when Philippine regulators are actively developing guidelines to curb fraud and investor risk in cryptocurrency transactions and initial coin offerings (ICOs). Notably both Philippines 'central bank and the country's securities regulator are collaborating over the effort, first revealed by central bank Governor Nestor Espenilla late last year after acknowledging the strong growth potential in the (ICO) space.