Philippines new regulation for ICO's


#1

How do you think this will affect electroneum in the philippines? Will it be banned in this country?

article from cointelegraph:

Filipino lawmakers to formalize the regulatory environment for Initial Coin Offerings ([CO) and their issuers.

last month, the Philippine SEC had opened its draft rules on the crypto sector to public feedback, the deadline for proposals being August 31. A final version of those rules should appear next week, shortly before the draft exchange proposals, according to The Manila Times.

The Philippine SEC also revealed it had been working in tandem with the [central bank], the Bangko Sentral ng Pilipinas (BSP), in order to establish what Amatong terms “cooperative oversight.”

“We already discussed the matter with the BSP since the BSP is also interested and we are also interested,” he continued, adding:


#2

From what you have put here this looks like it only regards ICO’s which Electroneum has already been through and done. This is when teams raise money before they launch there coin. There have been alot of scams with ICO’s that have no actual product so governments are putting new rules in place to protect people.

Since Electroneum has already had it’s ICO does not sound like it will be effected :slight_smile:


#3

ETN is a fintech, this is for ICOs


#4

I think this is for those who are interested in launching an ICO in the Philippines only. It does not affect Electroneum which was launched in the UK, under their government who has a different regulation about ICOs.