CryptoVerse Chronicles – Episode 37
Regulation Rewrites: Philippines SEC Clarifies Crypto Rules, U.S. Senate Hammers Out GENIUS Act
Since our last post just three days ago, the pace of regulatory change has accelerated, with major new developments breaking in both the Philippines and the United States. In a rare move, we’re publishing this special CryptoVerse Chronicles update ahead of schedule to keep you at the forefront of what’s happening right now. Here’s what you need to know about the latest SEC clarifications in the Philippines and the fast-evolving GENIUS Act talks in Washington, and why these changes could reshape the Web3 landscape for builders, influencers, and users in both countries.
The global crypto scene is changing fast, and nowhere is that more apparent than in this week’s developments from both sides of the Pacific. In the Philippines, new guidance from the SEC is reshaping what it means to be a builder, influencer, or platform. Meanwhile, in the United States, lawmakers are deep in the weeds, debating the final details of what could become the country’s first comprehensive stablecoin law.
Philippines SEC: Clarity, Compliance, and a Call to Professionalism
After a wave of concern over its strict new rules for crypto-asset service providers (CASPs), the Philippines SEC issued an official clarification this week. The message: marketing crypto isn’t banned, but it’s under a new microscope. Unlicensed promotions, misleading claims, or content that directly encourages Filipinos to invest in crypto assets are the real targets.
Influencers and marketers now face a higher bar. If you’re being paid, whether in cash, tokens, or high-value “gifts”- to promote exchanges, airdrops, or tokens, you must not only disclose your relationship but also ensure you’re working with licensed and registered projects. Registration as a business in the Philippines is a must, even for KOLs posting from abroad. Neutral content and unpaid fan discussions remain safe, but the era of “shill” culture is drawing to a close.
Events, contests, and airdrops that actively encourage investment are also under SEC oversight. Swag like jackets or mugs isn’t a problem, but luxury goods as compensation might be. The rules for crypto businesses are even more demanding. All must be locally incorporated, registered with both the SEC and the Bangko Sentral ng Pilipinas, and strictly compliant with anti-money laundering and know-your-customer procedures. International platforms that don’t set up shop locally could face blocking or outright bans, a fate Binance has already encountered.
Fines for violations can reach up to ₱10 million, with the possibility of cease-and-desist orders or even contempt proceedings. Local exchanges are being urged to step up their game, as Filipino users, long accustomed to global platforms, may soon find their choices limited if local providers can’t offer competitive products and pricing.
The bottom line in the Philippines: transparency, compliance, and local presence are now non-negotiable. The hope is that these steps will foster a safer, more trusted market, but the risk is that smaller projects or innovators may be squeezed out by the cost and complexity of compliance.
U.S. GENIUS Act: The Senate’s Stablecoin Saga Reaches a Turning Point
Meanwhile, in Washington, the U.S. Senate is making headlines with its ongoing debate over the GENIUS Act, the first major attempt to set national rules for stablecoins. As of June 5, 2025, the legislative process is in high gear. More than 60 proposed amendments are being discussed, as senators from both sides of the aisle negotiate everything from consumer protection standards to reserve requirements and anti-money laundering measures.
These bipartisan talks aim to create a bill that can win broad support, with key debates focusing on audit protocols, how both banks and fintechs can participate, and the balance between state and federal licensing pathways. The GENIUS Act’s final form could set the tone for stablecoin innovation and regulatory clarity in the U.S. for years to come.
For the crypto industry, the stakes are high. The bill’s passage would mean stablecoin issuers have a clear, federally recognized path to compliance, unlocking new possibilities for payments, remittances, and DeFi. At the same time, areas like NFTs and DeFi platforms remain largely unaddressed, signaling that broader Web3 regulation in the U.S. is still a work in progress.
Conclusion: Two Paths, One Global Shift
Both the Philippines and the United States are moving from regulatory uncertainty to clear frameworks, but their approaches are distinct. The Philippines is setting tough new standards across the entire industry, raising the cost of entry but aiming for user protection and professionalism. The U.S. is taking a targeted approach, starting with stablecoins and leaving other digital assets for future debate.
For builders, influencers, and users, the message is clear: compliance and transparency are no longer optional; they’re the new baseline for participation in Web3. Whether this fosters a safer, more mature ecosystem or sidelines grassroots innovation remains to be seen.
Thank You for the Support!
CryptoVerse Chronicles continues to grow thanks to you! Our last episode drew over 200 views and 11 new subscribers in just three days, and our new GryphWeb3 Facebook page has reached 83 followers in only five days. Thank you for reading, subscribing, and sharing. Your support keeps this community thriving.
Stay tuned for the next deep dive as we track these regulatory waves and what they mean for the future of digital finance, both at home and around the world.
