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The Philippine Securities and Exchange Commission (SEC) on Wednesday issued an advisory clarifying that its newly enforced rules on crypto asset service providers (CASPs) do not ban cryptocurrency trading or investment, but instead require proper registration and licensing.
The SEC stated that the rules, which took effect on July 5, apply to all entities, local or foreign, that offer crypto services to users in the Philippines. (Read more: SEC Flags 10 Unregistered Crypto Exchanges, Eyes Website Blocking)
- The regulator emphasized that enforcement actions against unregistered platforms fall within its legal mandate and are aimed at protecting investors from fraud, loss of funds, and money laundering risks.
“Market integrity and investor protection are central to our enforcement of the CASP Rules,” the SEC said. “A free and competitive market must also be responsibly regulated.”
The statement comes amid increasing scrutiny of offshore crypto exchanges operating without licenses in the country. While not naming specific platforms on this new advisory, the SEC noted that enforcement may include restricting access to non-compliant services.
The Commission encouraged all crypto-related firms targeting Filipino users to register and adhere to the guidelines, reiterating its call for a level playing field in the digital asset sector.
Below is the SEC Advisory in full:
Clarifying the Enforcement of the Rules on Crypto Asset Service Providers
The Securities and Exchange Commission (SEC) issues this statement to provide clarity on the recently implemented Rules on Crypto Asset Service Providers (CASP Rules), which took effect on 5 July 2025. These rules apply to all entities, local or foreign, that offer crypto-asset services to persons in the Philippines.
The CASP Rules do not prohibit cryptocurrency trading or investment. Rather, they require platforms to obtain the appropriate registration and licenses before offering their services in the Philippines. This ensures that investors are protected, market integrity is upheld, and all market participants operate on a level playing field.
In enforcing the CASP Rules, the SEC acts within its legal mandate to investigate and take action against unregistered entities, which may include measures to limit access to non-compliant platforms. These actions are designed to safeguard the public from risks such as fraud, loss of funds, and money laundering risks that often increase during periods of heightened market activity.
The SEC encourages both local and foreign platforms to register and comply with the CASP Rules. We recognize the importance of a free, competitive market, but one that is responsibly regulated to protect investors and support the sustainable growth of the crypto industry in the Philippines.
For more information on the CASP Rules, or to report possible violations, please contact:
📧 [email protected] – Report unregistered platforms and any violation/s of the CASP Rules
📧 [email protected] – CASP Registration inquiries
For the information and guidance of the public.
Issued on 14 August 2025 in Makati City, Philippines.
This article is published on BitPinas: SEC Clarifies CASP Rules: Crypto Trading Not Prohibited, But Registration Now Mandatory
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