Philippines Expecting Toughening Crypto Crime Legislation

March 16, 2018

The Philippines’ government plans tightening penalties for crypto crimes. For this purpose senator to the current country’s congress Leila de Lima has lodged a bill with code name “SВ 1694”. The document suggests adding a degree greater penalty as well as converting of digital asset cost to the state currency at the moment of crime.

Cryptocurrencies used by criminals will be either withdrawn by the country’s authorities or given back to its former owners.

Note that the Republic’s authorities opted for this measure for the reason of anonymity only. De Lima is convinced, these steps are necessary as the government has to be ready for any kind of violation and highly efficient in preventing them.


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