The Philippine Securities and Exchange Commission was scheduled to announce ICO regulations at the end of 2018, but reports have been postponed due to stakeholder coordination.
According to local reports, it takes time to review the ICO draft draft to meet the needs of various stakeholders. The Philippine Securities and Exchange Commission conducts regulatory reviews on the basis of stakeholder demands, and will make public comments on the draft regulations in the future.
At this stage, the draft regulation appears to be that the regulators classify the tokens issued by the ICO as securities. The ICO requires disclosure to the Securities and Exchange Commission in order to protect ordinary investors. You must register with the Securities and Exchange Commission 45 days before the sale through ICO. The company also exempts sales of security tokens for less than 20 people a year, or for bank, institutional investors, insurance companies, and pension fund sales. For more information, please click here .