Play-to-earn online game Axie Infinity is not yet required to register with Philippine securities and monetary regulators, but it will be monitored.
The Securities and Exchange Commission and Bangko Sentral ng Pilipinas said on Monday that Axie Infinity isn’t required to register with them right now, but they are closely monitoring the game if it grows in popularity.
“Ang pinagaaralan namin is yung payment component. Papaano pag napakaraming merchants sa Pilipinas ang nag-a-acept ng SLP ,” Plabsan said in a YouTube video posted over the weekend. The FSF is a voluntary inter-agency forum comprised of the BSP, the Securities and Exchange Commission , the Insurance Commission and the Philippine Deposit Insurance Corporation .
The agreements under the framework are expected to eliminate regulatory arbitrage and promote adherence to standards on cybersecurity, anti-money laundering and the combatting of financing of terrorism , and consumer protection."
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