The Philippine Securities and Exchange Commission’s draft rules for crypto asset service providers could boost investor protection and spur adoption, analysts said. Published on December 20, the proposal sets requirements for SEC-registered stock corporations, minimum capital, and at least four local staff members. It also mandates measures against market abuse, barring market manipulation, insider trading, and unauthorised disclosures. Feedback is open until January 18, 2025. Observers seek clearer guidelines on licensing categories, especially for firms offering distinct services. They also want more specifics on delisting criteria and a transitional provision for existing providers registered with the Bangko Sentral ng Pilipinas. The central bank imposed a three-year moratorium on new licenses, which may be lifted next year.