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Think tank Infrawatch on Thursday called on the Sec urities and Exchange Commission to close enforcement gaps, which enable unregistered platforms to facilitate fraud and abuse.Infrawatch convenor Terry Ridon said the SEC 's Strategic Sandbox , which allows licensed crypto asset service providers to test new products and services under regulatory supervision, was a timely measure that will promote innovation in the country’s digital asset ecosystem.
“If the SEC seeks strict compliance from licensed cryptocurrency exchanges, it should undertake stronger measures to crackdown on unlicensed exchanges operating in the Philippines, particularly through advisories warning the public against investing in these firms,” Ridon added.Launched in May, the StratBox was designed to give registered crypto firms a controlled environment to develop and deploy digital financial products while allowing regulators to assess associated risks.
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