菲律賓政府承諾在2028年前採用國際數字貨幣資產報告框架，以配合全球遏制跨境逃稅和非法金融流動的努力。這一舉措突顯了該國財政部(DoF)加強金融的推動。

COUNTRY

貨幣

菲律賓政府已承諾在2028年前採用國際數字貨幣資產報告框架，以配合全球遏制跨境逃稅和非法金融流動的努力。這一舉措凸顯了該國財政部(DoF)加強財政透明度的推動，因爲數字貨幣在該國變得越來越主流。

“如果我們要打擊逃稅和非法交易，我們需要更快、更強大的協作系統，”財政部長拉爾夫·雷克托在一份聲明中說道。“政府必須確保加密資產用戶支付他們應有的稅款，並且沒有任何非法金融活動逃脫懲罰。”

**加入67個司法管轄區的全球稅收透明倡議**

![](https://img-cdn.gateio.im/social/moments-c27fddd6e04c6a0b7fb04453116c8855)來源：財政部/Facebook在馬爾代夫馬累舉行的第八屆亞洲倡議會議上，財政副祕書長查爾利托·馬丁·門多薩正式確認該國承諾採納經濟合作與發展組織(OECD)制定的加密資產報告框架(CARF)。

CARF旨在標準化跨管轄區對加密資產稅務信息的自動交換。該框架確保參與跨境數字資產交易的個人和實體無法向稅務機關隱瞞收入或收益。

菲律賓加入了67個司法管轄區，其中10個在亞洲，這些國家承諾將在2027年或2028年實施CARF。該國的承諾時機與總統費迪南德·馬科斯·小年的六年任期結束相一致，在此期間，財政紀律和透明度一直是反復出現的主題。

“這是一個及時的承諾，因爲數字貨幣正成爲交易的首選方式之一，”Recto指出。

**菲律賓數字貨幣的增長與風險**

Recto之前表示，菲律賓人已投資約PHP6萬億($1070億)於數字貨幣，這一數字超過了該國商業流程外包和離岸遊戲行業規模的兩倍。

“在菲律賓，很多菲律賓人已經投資於加密貨幣。類似於6萬億比索的加密投資正在進行中，”Recto在今年早些時候接受彭博社採訪時表示。他將這一增長歸因於技術嫺熟、年輕的羣體以及數字錢包的普遍使用，並指出現在有9000萬菲律賓人使用這些工具進行儲蓄、投資和交易。


然而，第三方數據顯示出更爲謹慎的情況。區塊鏈分析公司Chainalysis估計菲律賓2024年的加密貨幣流動爲431億美元，低於2023年的660億美元。該公司將40%的明顯下降歸因於跟蹤去中心化金融(DeFi)活動的方法論修訂。










 
盡管存在差異，這些數字強調了稅務機關跟上數字貨幣快速普及的重要性。數字資產的去中心化和無國界特性給執法和徵稅帶來了挑戰。
**在CARF推出之前促進信息交流**

財政部還報告了改善稅收透明度和合規機制的平行努力。在亞洲倡議會議上，該部門分享了我國在採納《稅務事務相互行政協助公約》(MAAC)方面的進展，這是一個用於稅收評估和徵收合作的多邊工具。

它還概述了爲加強監測過程所採取的步驟，加強信息交換(EOI)的請求，以及採用共同報告標準(CRS)。

亞洲倡議旨在增強國際合作，以提高稅收透明度和打擊非法金融流動。菲律賓於2023年成爲成員，此後一直致力於與全球達成的標準保持一致。

此次會議還標志着2025年亞洲稅收透明度報告的發布，該報告詳細說明了在2024年實施稅收透明度框架方面所取得的區域進展。

在全球範圍內，稅收透明度的努力已被證明是有效的。從2009年到2024年，通過EOI、離岸調查、AEOI (自動金融帳戶信息交換)和相關披露計劃，至少識別出240億歐元( 270億)美元的額外收入。僅在2024年，通過這些手段識別出的未申報收入就達19億歐元( 20億)美元。

**在不增加稅收的情況下提高收入**

CARF的承諾是在馬科斯政府重申其不打算引入新稅收的意圖之際提出的。相反，它旨在通過改善徵收和執行來增加國家收入。

根據政府機構的說法，這項政策方向已經開始見效。2024年4月，稅收達到了5221億PHP($9億)，前四個月的總額達到了1.5萬億PHP($26億)。其中，94%的收入來自稅收，這得益於稅收收入的11.49%的增長。

DOF表示，數字貨幣框架通過填補稅收逃避風險最高領域的空白來補充這些努力。

觀看：菲律賓正朝着區塊鏈技術的方向發展

The Philippine government has committed to adopt an international reporting framework for digital currency assets by 2028, aligning with global efforts to curb cross-border tax evasion and illicit financial flows. The move underscores the country’s Department of Finance’s (DoF) push to strengthen fi

The Philippine government has committed to adopt an international reporting framework for digital currency assets by 2028, aligning with global efforts to curb cross-border tax evasion and illicit financial flows. The move underscores the country’s Department of Finance’s (DoF) push to strengthen fiscal transparency as digital currencies become more mainstream in the country.

“We need faster and stronger systems for collaboration if we are to beat tax evasion and illicit transactions,” Ralph Recto, Finance Secretary, said in a statement. “The government must ensure that crypto-asset users are paying their fair share of taxes and that no illicit financial activity goes unpunished.”

**Joining 67 jurisdictions in global tax transparency initiative**

![](https://img-cdn.gateio.im/social/moments-c27fddd6e04c6a0b7fb04453116c8855)Source: Department of Finance/FacebookDuring the 8th Asia Initiative Meeting held in Malé, Maldives, Finance Undersecretary Charlito Martin Mendoza formalized the country’s commitment to adopt the Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD).

The CARF is designed to standardize the automatic exchange of tax information on crypto-assets across jurisdictions. The framework ensures that individuals and entities engaging in cross-border digital asset transactions cannot hide income or gains from tax authorities.

The Philippines joins 67 jurisdictions, 10 of which are in Asia, that have pledged to implement the CARF by either 2027 or 2028. The timing of the country’s commitment aligns with the end of President Ferdinand Marcos Jr.’s six-year term, during which fiscal discipline and transparency have been recurring themes.

“This is a timely commitment as digital currency becomes one of the preferred means for transactions,” Recto noted.

**Digital currency growth and risks in the Philippines**

Recto previously stated that Filipinos have invested an estimated PHP6 trillion ($107 billion) in digital currencies, more than double the combined size of the country’s business process outsourcing and offshore gaming sectors.

“In the Philippines, a lot of Filipinos have already invested in crypto. Something like 6 trillion pesos worth of investments in crypto is being done,” Recto told Bloomberg in an interview earlier this year. He attributed this growth to a tech-savvy, youthful population and the widespread use of digital wallets, noting that 90 million Filipinos now use such tools to save, invest, and transact.


However, third-party data paints a more measured picture. Blockchain analytics firm Chainalysis estimated the Philippines’ 2024 crypto flows at $43.1 billion, down from $66 billion in 2023. The firm attributed the apparent 40% drop to revised methodologies for tracking decentralized finance (DeFi) activity.










 
Despite the discrepancy, the numbers underscore the importance of tax authorities keeping pace with the rapid adoption of digital currencies. The decentralized and borderless nature of digital assets presents challenges for enforcement and taxation.
**Boosting exchange of information ahead of CARF rollout**

The DOF also reported on parallel efforts to improve tax transparency and compliance mechanisms. At the Asia Initiative Meeting, the department shared the country’s progress in adopting the Convention on Mutual Administrative Assistance in Tax Matters (MAAC), a multilateral tool for tax assessment and collection cooperation.

It also outlined the steps taken to prepare for the Enhanced Monitoring Process, the strengthening of the Exchange of Information (EOI) on request, and the adoption of the Common Reporting Standards (CRS).

The Asia Initiative aims to enhance international cooperation on tax transparency and combating illicit financial flows. The Philippines became a member in 2023 and has since been working to align with globally agreed-upon standards.

The meeting also marked the launch of the 2025 Tax Transparency in Asia Report, which details regional progress made in applying tax transparency frameworks throughout 2024.

Globally, efforts in tax transparency have proven effective. From 2009 to 2024, at least €24 billion ($27 billion) in additional revenue has been identified through EOI, offshore investigations, AEOI (Automatic Exchange of Financial Account Information), and related disclosure programs. In 2024 alone, €1.9 billion ($2 billion) in undeclared income was identified through these means.

**Raising revenue without tax hikes**

The CARF commitment comes as the Marcos administration reiterates its intention not to introduce new taxes. Instead, it aims to increase state revenue through improved collection and enforcement.

This policy direction already has been bearing results, according to the government agency. In April 2024, revenue collection reached PHP522.1 billion ($9 billion), bringing the total for the first four months to PHP1.5 trillion($26 billion). Of this, 94% came from taxes, thanks to an 11.49% increase in tax revenues.

The DOF says the digital currency framework complements these efforts by plugging gaps in areas where tax evasion risks are highest.

Watch: The Philippines is moving toward blockchain-enabled tech

Philippines to implement ‘crypto’ tax framework by 2028

菲律賓將在2028年前實施‘加密貨幣’稅收框架

在最近的亞洲科技與新加坡峯會上，一組強大的創始人、投資者和創新領袖的專家小組揭示了在當今動蕩市場中建立、擴展和維持初創企業所需的條件。
對於創始人、風險投資家(VCs)、Web3愛好者和開發者，

Web3

在最近的亞洲科技與新加坡峯會上，一組創始人、投資者和創新領袖的強大小組揭示了在當今動蕩市場中建立、擴展和維持初創企業所需的條件。

對於創始人、風險投資家(VCs)、Web3愛好者和開發者，他們的坦誠見解提供了一個有價值的藍圖，不僅用於融資和擴展，還用於應對模糊性、明智地選擇投資者，以及將韌性構建到初創企業的DNA中。

![Asia Tech x Singapore 峯會圖片](http://img-cdn.gateio.im/social/moments-2d4c171f5429b8cc02c0168d5a088ccb019283746574839201**時機、運氣和籌款的科學**

氣候科技公司 Unravel Carbon 的聯合創始人 Grace Sai 開始討論，強調了時機和運氣在初創企業成功中常常被低估的作用。

“我們剛剛走出 Y Combinator。那是全球所有氣候法規即將全面開放的高峯期…數千億的可總量市場，所以我們正好在合適的時間和地點，”Sai 回憶道。

但盡管時機和市場準備發揮了作用，Sai 強調創始人仍然可以採取科學的方法進行融資。

“其中一些包括在非常短的時間內進行籌款——比如在三周內進行一百次聊天。因此，你能夠排好報價，以做出最佳決策，”她解釋道。

這一策略不僅在投資者之間創造了競爭緊張局勢，還幫助創始人優化估值和條款。

Sai的建議對於在Web3和區塊鏈中航行的早期創業公司尤其相關，因爲監管環境和採用曲線可能會迅速變化。

**籌款只是開始**

Livspace的創始人Anuj Srivastava分享了他爲公司籌集超過4億美元的艱辛智慧。對Srivastava來說，籌集資金僅僅是更長旅程中的一個檢查點。

“承諾不僅僅在於籌集資金；承諾在於創建一個高度治理的結構，專注於大量的受托責任，同時確保我們現在爲公司設立以便於資金的回報，”Srivastava說道。

![亞洲科技 x 新加坡峯會圖片])http://img-cdn.gateio.im/social/moments-995950cf25a16ff5f2d0268e20fd8231(在當今審查更嚴格的環境中，公共和私人投資者要求增長、資本紀律和價值創造。

Srivastava 強調了投資者對齊的重要性。他的資本結構表包括像 KKR、TPG Growth、Goldman Sachs )NASDAQ: GS( 和 IKEA 這樣的主要機構名稱，這些機構不僅帶來資本，還提供戰略價值和全球市場知識。

**耐心資本的需求**

雖然快速擴張的行業如消費互聯網可能適合傳統的風險投資模型，但深科技、醫療科技和氣候科技需要一種根本不同的投資方式。IGPI新加坡的首席執行官坂田浩樹介紹了“耐心資金”的概念——願意等待10年、20年甚至30年才能獲得回報的資本。

“對於我們的半導體業務……我們預計大約需要10年。但如果談到區域轉型，我們看的是20年、30年，”坂田解釋道。

他的公司建立了專門的投資結構，如ATT&amp;CK )高級技術加速公司(，以支持具有更長發展週期的基於研究的初創企業。

斯裏瓦斯塔瓦同意資金結構必須演變：“資金從來都不耐心。資金應該耐心。必須有一定程度的轉變……以允許價值創造發生，而不產生不必要的壓力和不耐煩。”

對於解決基礎設施、人工智能)AI(集成或互操作性挑戰的Web3初創公司來說，耐心資本可能證明是成功的關鍵推動力之一。

**跨境擴展：了解您的戰略**

全球擴張帶來了另一系列復雜的挑戰。AI初創公司Pantheon Lab的聯合創始人Ivan Lau分享了他在2019年創辦一家AI公司的經驗——在“生成式AI”甚至還不是一個廣泛認可的術語之前。

“當時幾乎沒有市場……我們依靠幾個真正看到了這個想法的天使投資者起步，然後開始了研發，等待市場的到來，”Lau說。

Lau的故事突顯了信念、堅持和持續市場監測的重要性：“我們不斷關注信號……如果一切都對齊，那麼我們就繼續引導。”

Sakata警告創始人避免同時跨足全球和本地策略，他表示：“如果你試圖在一個國家中佔據主導地位，你必須採取主導策略……而如果你真的想要在全球擴展，那就是另一種形式。”

Srivastava 補充說，成功的全球擴張通常取決於“一加一”的領導模式：將深刻理解公司精神的內部人才與了解特定市場細微差別、法規和文化的當地合作夥伴配對。他還強調了“投資於足夠能力”的重要性，即建立內部法律、合規和財務專業知識，以降低 Gate 跨境風險。

**企業合作的力量與陷阱**

隨着初創企業的成熟，企業合作變得越來越具有戰略性。Sai指出，Unravel Carbon故意避免在早期階段接受企業風險投資)CVC(資金，因爲其決策過程較慢。

"他們的步伐和結構並不適合早期公司生存所需的條件，對吧，這就是速度、靈活性以及大量快速實驗。" 她說。

但在合適的階段，CVC可以爲新市場和客戶羣打開大門。

“他們開闢新市場。他們幫助您在新市場中銷售。他們爲您的產品提供銷售團隊支持，”Sai解釋道。

Sakata提倡一種更爲整合的合作夥伴模式，以連接初創企業、集團公司和學術界。他的ATT&amp;CK平台充當研究機構、初創企業和大型公司的橋梁，以共同開發大規模技術。

![Asia Tech x Singapore 峯會圖片])http://img-cdn.gateio.im/social/moments-30cca0f2267e40d826c07086af0fb589(至於 Srivastava，他建議創始人以明確的期望和正式協議來處理企業合作夥伴關係。

“你們彼此之間有點是在許下承諾……深思你們彼此之間所做的承諾，並在條款或條件或條款清單中體現出來。”

**最終要點：毅力、願景和學習速度**

小組以快速的建議結束了對創始人的討論。Sai 強調了市場選擇的重要性：“找到一個足夠大的市場和一個你知道自己有獨特見解的問題，這使你成爲解決這個問題的最佳人選。”

Lau呼籲創始人要保持堅持，同時也要適應：“堅守你所相信的……但要學習反饋。”

Srivastava 爲創業者在創業生活的不確定性中提供了最終框架：“高度的第一性原理問題解決能力，高情商，模糊性商數——以及學習速度，即一個人在工作中快速學習的能力。”

在當今快速發展的Web3和技術環境中，這些原則可能會將繁榮的初創公司與停滯不前的公司區分開來。

觀看 | Block Dojo 的成功故事：轉型傳統企業與未來旅行科技

At the recent Asia Tech x Singapore Summit, a powerhouse panel of founders, investors, and innovation leaders pulled back the curtain on what it takes to build, scale, and sustain a startup in today’s volatile market.
For founders, venture capitalists (VCs), Web3 enthusiasts, and developers,

At the recent Asia Tech x Singapore Summit, a powerhouse panel of founders, investors, and innovation leaders pulled back the curtain on what it takes to build, scale, and sustain a startup in today’s volatile market.

For founders, venture capitalists (VCs), Web3 enthusiasts, and developers, their candid insights offer a valuable blueprint, not just for fundraising and expansion, but for navigating ambiguity, choosing investors wisely, and building resilience into the very DNA of a startup.

![Asia Tech x Singapore Summit image](https://img-cdn.gateio.im/social/moments-2d4c171f5429b8cc02c0168d5a088ccb)**Timing, luck, and the science of fundraising**

Grace Sai, co-founder of climate-tech company Unravel Carbon, kicked off the discussion by emphasizing the often-underestimated role of timing and luck in startup success.

“We just came out of Y Combinator. It was the peak of all climate regulations around the world about to open up like a…hundreds of billions of total addressable market and so we were just at the right time and place,” Sai recalled.

But while timing and market readiness played their part, Sai underscored that founders can still take a scientific approach to fundraising.

“Some of it would include having a very short condensed time to fundraise—like have a hundred chats within three weeks. And so you’re able to line up the offers to make the best decision,” she explained.

This strategy not only creates competitive tension among investors but helps founders optimize valuations and terms.

Sai’s advice is especially relevant for early-stage startups navigating Web3 and blockchain, where regulatory landscapes and adoption curves can shift rapidly.

**Fundraising is just the beginning**

Anuj Srivastava, founder of Livspace, shared hard-earned wisdom from raising over $400 million for his company. For Srivastava, raising capital is merely one checkpoint in a much longer journey.

“The promise is not just in raising; the promise is in creating a highly governed structure, focus on a lot of fiduciary responsibilities but making sure that we are now setting the company up for returning the money,” Srivastava said.

![Asia Tech x Singapore Summit image](https://img-cdn.gateio.im/social/moments-995950cf25a16ff5f2d0268e20fd8231)In today’s climate of higher scrutiny, public and private investors demand growth, capital discipline, and value creation.

Srivastava emphasized the importance of investor alignment. His cap table includes major institutional names like KKR, TPG Growth, Goldman Sachs (NASDAQ: GS), and IKEA, which bring not only capital but strategic value and global market knowledge.

**The need for patient capital**

While fast-scaling sectors like consumer Internet may fit the traditional venture model, deep tech, medtech, and climate tech require a fundamentally different investment approach. Kohki Sakata, CEO of IGPI Singapore, introduced the concept of “patient money”—capital willing to wait 10, 20, or even 30 years for returns.

“For our semiconductor business… we’re looking for like 10 years. But if you talk about the regional transformation, we look at 20 years, 30 years,” Sakata explained.

His firm has built specialized investment structures like ATT&CK (Advanced Technology Acceleration Corporation) to support research-based startups with longer horizons.

Srivastava agreed that fund structures must evolve: “Money has never been patient. Money should be patient. There has to be some degree of transformation… to allow value creation to happen without unnecessary stress and impatience getting created.”

For Web3 startups tackling infrastructure, artificial intelligence (AI) integration, or interoperability challenges, patient capital may prove to be one of the most critical enablers of success.

**Expanding across borders: Know your strategy**

Global expansion presents another set of complex challenges. Ivan Lau, co-founder of AI startup Pantheon Lab, shared his experience launching an AI company back in 2019—before “generative AI” was even a widely recognized term.

“There was literally no market… We bootstrapped with a few angels who actually saw the idea, and we just started the R&D, waiting for the market,” Lau said.

Lau’s story highlights the importance of conviction, persistence, and continuous market monitoring: “We keep looking at the signals… and if everything is aligned, then we keep bootstrapping.”

Sakata cautioned founders to avoid straddling both global and local strategies simultaneously, saying, “If you are trying to dominate one country by country, you have to take a dominant strategy… whereas if you really want to scale globally, it’s a different format.”

Srivastava added that successful global expansion often hinges on a “one-plus-one” leadership model: pairing internal talent who deeply understand the company’s ethos with local partners who understand market-specific nuances, regulations, and culture. He also stressed the importance of “investing in adequate capabilities”—building in-house legal, compliance, and finance expertise to mitigate cross-border risks.

**The power—and pitfalls—of corporate partnerships**

As startups mature, corporate partnerships become increasingly strategic. Sai noted that Unravel Carbon deliberately avoided corporate venture capital (CVC) money early on due to its slower decision-making processes.

“Their pace and their structures are not friendly to what an early stage company requires to just survive, right, which is speed, agility, a lot of rapid experimentations,” she said.

But at the right stage, CVCs can open doors to new markets and customer bases.

“They open up new markets. They help you sell in the new markets. They put their sales team behind your product,” Sai explained.

Sakata advocates for a more integrated partnership model that connects startups with conglomerates and academia. His ATT&CK platform serves as a bridge between research institutions, startups, and large corporations to co-develop technology at scale.

![Asia Tech x Singapore Summit image](https://img-cdn.gateio.im/social/moments-30cca0f2267e40d826c07086af0fb589)As for Srivastava, he advised founders to approach corporate partnerships with clear expectations and formalized agreements.

“You’re kind of making a promise to each other… deeply think about the promise that you are making to each other and reflect that in the terms or conditions or term sheets.”

**Final takeaways: Grit, vision, and learning velocity**

The panel closed with rapid-fire advice for founders. Sai emphasized the importance of market selection: “Find a market that is big enough and a problem that you know you have a special insight into, and that makes you the best person to solve for.”

Lau urged founders to stay persistent but also adaptive: “Stick to what you believe in…but learn the feedback.”

Srivastava offered a final framework for founders navigating the uncertainty of startup life: “A high degree of first principle problem solving, high emotional quotient, ambiguity quotient—and the learning velocity, which is the ability for someone to actually learn really quickly on the job.”

In today’s fast-evolving Web3 and tech landscape, these principles may well separate the startups that thrive from those that stall.

Watch | Block Dojo’s success stories: Transforming legacy businesses & future of travel tech

Unlocking success: Insights on growth, funding from Asia Tech x SG

解鎖成功：來自亞洲科技與新加坡的增長和資金費用見解

菲律賓證券交易委員會(SEC)已正式發布針對加密資產服務提供商(CASPs)的規則，要求提供此類服務的實體在該國運營之前必須註冊並獲得許可證。這一舉措是由於數字資產活動的衝鋒。

證券交易委員會

加密

菲律賓證券交易委員會(SEC)正式發布了針對數字資產服務提供商(CASPs)的規則，要求提供此類服務的實體在該國運營之前註冊並獲得許可。此舉是由於數字資產活動的衝鋒和涉及未註冊平台的欺詐案件數量的增加。

“這些規則的發布旨在支持本地參與者，並追究那些未註冊的參與者，”證券交易委員會助理主任保羅·翁在2025年菲律賓區塊鏈周的論壇上表示。“我們相信這些規則將增強我們執法團隊的權威，他們可以更積極地追查在菲律賓運營的未註冊平台。”

根據5月30日發布的備忘錄通告，新指南規定，所有CASP必須在菲律賓註冊爲股份公司，實收資本至少爲PHP100百萬($1.8百萬)，不包括數字資產。他們還需要提交商業計劃、風險披露矩陣以及其他文件以獲得批準。

![馬克·戈裏塞塔律師](http://img-cdn.gateio.im/social/moments-0c4469239bae77afb0b2b81df715c7ea019283746574839201律師。Gorriceta Africa Cauton & Saavedra )left(的管理合夥人Mark Gorriceta和證券交易委員會PhilFintech創新辦公室助理主任Paolo Ong在菲律賓帕賽市的SMX會議中心舉行的2025年菲律賓區塊鏈周論壇上)right(。 **關注資金隔離和投資者保護**

Ong 解釋說，除了公司註冊和資本要求外，申請人還必須確保客戶資金與公司資金的明確分離，這是在多個全球數字資產交易所崩潰中出現的問題。

“CASP 指南強調將客戶資金與交易所資金分開，”Ong 說。“這是因爲我們看到，從)其它交易所的崩潰中學習確實是保護投資者[the]資金的關鍵措施。”

他補充說，平台必須確保菲律賓用戶了解擁有數字資產的風險。“我們希望菲律賓人能夠訪問這些產品，但我們需要[and]讓他們了解參與平台之前所涉及的風險。”

**教育工作者和影響者的營銷限制與指南**

一項主要條款涉及數字資產產品的營銷和推廣方式，尤其是在網上。根據Ong的說法，任何營銷或誘導購買數字資產的人必須註冊爲公司並持有必要的證券交易委員會許可證，第三方提供商有有限的例外。

“我們在菲律賓營銷數字資產的標準僅僅是菲律賓公司註冊—基本的營業執照，來自證券交易委員會的主要許可證，”Ong說。“你不需要CASP許可證，只需要一個主要許可證。”

對於內容創作者和教育工作者來說，Ong表示意圖和透明度是關鍵。


“我們不禁止對教育努力的補償，但我們總是關注誠信。如果你是在進行教育而不是推銷特定的投資或平台，通常是可以接受的，”Ong說，並補充道，推廣特定產品或平台的教育者，尤其是那些詐騙的平台，可能會面臨執法行動。










“執法團隊將真正關注那些將其受衆推向特定平台的所謂教育者，”Ong警告道。
**目前沒有加密金融顧問的許可證，但沙盒已開放**

當被問及是否應將提供數字資產交易或投資建議的個人註冊爲財務顧問時，Ong 澄清說，證券交易委員會目前沒有針對財務顧問的許可方案，包括在傳統市場中。

他說這樣的個人可能想要進入證券交易委員會的監管沙盒。

“我們現在沒有，但如果他們想參與那項活動，他們可能想考慮進入沙盒，”Ong說。

**執法與行業合作展望**

證券交易委員會表示，新CASP規則旨在與行業共同發展。Ong鼓勵利益相關者在實施這些規定時提供反饋。

“我們相信規則尚未形成最終版本。它應該繼續發展，”他說。“我們始終歡迎反饋，無論是通過像這樣的論壇還是通過電子郵件發送給證券交易委員會的金融科技部門。”

在執法方面，處罰包括初犯處以 50,000 菲律賓比索[them] 885( 美元的罰款，第二次違規處以 100,000 菲律賓比索) 1,770019283746574839201 菲律賓比索的罰款，第三次違規處以 200,000 菲律賓比索( 3,540019283746574839201 的罰款，並可能吊銷執照。未使用的 CASP 許可證可在 12 個月後被取消，逾期提交報告可能會導致 10,000 菲律賓比索) 177( 美元起的罰款，外加 500 菲律賓比索) 8.85019283746574839201 的罰款。

最終，證券交易委員會表示，其目標是保護菲律賓投資者，同時促進合規創新。

“基於風險的監管是我們所追求的，”Ong說。“我們看到的最大風險來自未註冊的外國平台和詐騙者。這些規則旨在防範這些風險。”

觀看 |菲律賓創業熱潮：Sinigang Valley Build 創業節的亮點

The Philippines’ Securities and Exchange Commission (SEC) has formally issued its rules governing crypto asset service providers (CASPs), requiring entities offering such services to register and obtain a license before operating in the country. The move follows a surge in digital asset activity and

The Philippines’ Securities and Exchange Commission (SEC) has formally issued its rules governing crypto asset service providers (CASPs), requiring entities offering such services to register and obtain a license before operating in the country. The move follows a surge in digital asset activity and a growing number of fraud cases involving unregistered platforms.

“The rules were issued to support local players and go after those unregistered ones,” Atty. Paolo Ong, Assistant Director at the SEC, said during a forum at Philippine Blockchain Week 2025. “We believe that the rules will give more teeth to our enforcement team, and they can be more assertive in going after unregistered platforms that are operating in the Philippines.”

Under the new guidelines issued via a Memorandum Circular dated May 30, all CASPs must register as a stock corporation in the Philippines with a paid-up capital of at least PHP100 million ($1.8 million), excluding digital assets. They are also required to submit a business plan, a risk disclosure matrix, and other documentation to secure approval.

![Atty. Mark Gorriceta](https://img-cdn.gateio.im/social/moments-0c4469239bae77afb0b2b81df715c7ea)Atty. Mark Gorriceta, Managing Partner of Gorriceta Africa Cauton & Saavedra (left) and Atty. Paolo Ong, Assistant Director of PhilFintech Innovation Office of the Securities and Exchange Commission (right) during the forum at the Philippine Blockchain Week 2025 held at the SMX Convention Center in Pasay City, Philippines.**Focus on fund segregation and investor protection**

Ong explained that besides corporate registration and capital requirements, applicants must also ensure a clear separation of customer and company funds, an issue surfacing in several global digital asset exchange collapses.

“The CASP guidelines emphasize segregation of customer funds from exchange funds,” Ong said. “It’s because we see that learning from [the] collapse of other exchanges is really a key measure to protect investors [and] funds.”

He added that platforms must ensure Filipino users understand the risks involved with owning crypto assets. “We’d like Filipinos to access these products, but we require [them] to make them knowledgeable of the risks involved before they can engage with the platform.”

**Marketing restrictions and guidelines for educators, influencers**

One major provision addresses how digital asset products are marketed and promoted, especially online. According to Ong, anyone marketing or inducing the purchase of digital assets must be registered as a corporation and hold the necessary SEC license, with limited exceptions for third-party providers.

“The standard for us for marketing crypto assets in the Philippines would be simply a Philippine registration of a corporation—basic doing business, a primary license from the SEC,” Ong said. “You don’t need a CASP license for that, just a primary license.”

As for content creators and educators, Ong said intent and transparency are key.


“We don’t prohibit compensation for educational efforts, but we always look at good faith. If you’re educating and not pushing a specific investment or platform, it’s generally acceptable,” Ong said, adding that educators who promote specific products or platforms, especially those that are scams, could face enforcement actions.










“The enforcement team would really look at so-called educators that are pushing their audience into a specific platform,” Ong warned.
**No current license for crypto financial advisors, but sandbox is open**

Asked whether individuals offering trading or investment advice in digital assets should register as financial advisors, Ong clarified that the SEC currently has no licensing scheme for financial advisors, including in traditional markets.

He said such individuals may want to enter the SEC’s regulatory sandbox.

“We don’t have it right now, but they might want to consider entering the sandbox if they would want to engage in that activity,” Ong said.

**Enforcement and industry collaboration moving forward**

The SEC stated that the new CASP rules are designed to evolve in tandem with the industry. Ong encouraged stakeholders to provide feedback as the regulations are implemented.

“We believe that the rules will not have a final form yet. It should continue to develop,” he said. “We are always open to feedback, whether through forums like this or via email to the FinTech unit of the SEC.”

As for enforcement, penalties include fines of PHP50,000 ($885) for a first offense, PHP100,000 ($1,770) for a second offense, and PHP200,000 ($3,540) for a third offense, along with possible license revocation. Unused CASP licenses may be canceled after 12 months, and late filing of reports may result in fines starting at PHP10,000 ($177) plus PHP500 ($8.85) for each day of delay.

Ultimately, the SEC states that its goal is to protect Filipino investors while promoting compliant innovation.

“Risk-based supervision is what we aim for,” Ong said. “The biggest risks we see are from unregistered foreign platforms and scammers. These rules are meant to guard against that.”

Watch | The Philippines startup boom: Highlights from Sinigang Valley Build Startup Festival

CoinGeek

菲律賓將在2028年前實施‘加密貨幣’稅收框架

解鎖成功：來自亞洲科技與新加坡的增長和資金費用見解

菲律賓證券交易委員會爲加密服務提供商制定規則