Quote from: darkangelosme on April 05, 2018, 10:36:50 AM

Quote from: Duelyst on March 30, 2018, 03:45:34 AM

MANILA (Reuters) - The Philippines Securities and Exchange Commission said on Monday it is crafting rules to regulate cryptocurrency transactions to protect investors and reduce the risk of fraud. The regulation, which will cover issuance and registration of cryptocurrencies, is expected to be finalised this year, said Emilio Aquino, SEC commissioner in charge of enforcement and investor protection.

We need to act because initial coin offerings (ICOs) are sprouting especially in 2017. We want to come up with our own set of regulations, Aquino told a news conference. You have to be extra careful how investors in this new space are protected.
Authorities around the world, particularly in Asia, have attempted to rein in the global boom in trading bitcoin and other cryptocurrencies - a form of digital money created and maintained by its users.

Chinese authorities have banned initial coin offerings and shut down local trading platforms, while South Korea - where speculation on cryptocurrencies is also rife - is working on plans to ban virtual coin exchanges.

The regulation on ICOs will include guidelines on cybersecurity of cryptocurrency markets, eligibility of issuers including the officials and technology utilized, and financial literacy of investors, Aquino said.

The corporate regulator has yet to approve any public sale of cryptocurrencies and is investigating unlicensed sellers.
Unfortunately, there have been a lot of cases where ICO promoters vanish into thin air. We dont want that to happen here, Aquino said.
Hackers last week stole $530 million worth of digital money from Tokyo-based cryptocurrency exchange Coincheck Inc in one of the biggest-ever thefts of digital money. (source: https://www.reuters.com/article/us-philippines-cryptocurrency/philippines-to-develop-rules-on-cryptocurrency-trading-idUSKBN1FI0NK)

Well wala naman akong nakikitang masama sa sinabi ni mr. Aquino kung tutuusin mas pabor nga yun sa atin eh. Madali na ma trace ang mga fake ico pag napatupad na yan. Wala akong reklamo jan basta ang panghihimasukan lang nila ay ang mga mag lalaunch ng ico. At hindi nila pakiki alaman ang mga pangkaraniwang investor gaya natin. Hindi naman investor ang may potential mangscam diba Wink

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Sa tingin ko marami. Unang-una, paano nila gagawin ito, "The regulation, which will cover issuance and registration of cryptocurrencies..." 'Yong registration ng exchanges pwede, pero ang "issuance at registration ng cryptocurrencies" hindi ko alam kung paano nila gagawin. Pangalawa, ano ba alam nila sa ICO? Ipag-palagay natin na alam nila na 99% of ICOs are scam, ngayon, papaano nila ireregulate ang ICO? Mapipigilan ba nila ang tayo kung gusto nating mag-invest sa mga ICO? Siguro kapag local na ICO, pwede pa...pero kung foreign wala silang paki-alam doon!