Michael Vincent M.’s Post

Transcript

Even if by ***** is registered with the BSP as a virtual service provider, they cannot offer those products or services in the Philippines because SEC is the appropriate regulator now for those products. And maybe in in succeeding meetings and this will be rabbit holes maraming products done and we can discuss them one by one why they are securities. I may have my own opinion on this Products I send against subject, not an enforcement. Options in other jurisdictions. So it seems that SEC has some reasonable, yeah, it's reasonable for the SEC to make an assessment that products like this constitutes securities and therefore should be regulated by the SEC. And it would not matter whether they have a vastly license, No, if they're offering securities because this is something that is within the regulatory perimeter, none of the BSE but by the SEC.