The Philippines is one of the leaders in the Asia-Pacific region in terms of investment in Bitcoin and other virtual currencies.

As a result of that, the regulator of the country, the Securities and Exchange Commission (SEC), wants to get maximum powers to control the digital currency market in order to become the only agency that deals with the blockchain industry.

According to the regulator, in addition to monitoring the situation in the crypto sphere, it must ensure the protection of investors, and to do so, the agency should be able to remove dishonest participants from the market.

All types of operations with digital and tokenized assets should go under the control of the SEC if the regulator manages to get such power.