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Regulatory · Philippines · Mon 5 Oct · 1 min read

AMLC freezes 25 crypto wallets in plunder probe

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What happened

The AMLC obtaining a court order to freeze 25 crypto wallets and 86 bank accounts in a plunder investigation is a demonstration that Philippine financial crime enforcement now treats crypto wallets as equivalent to bank accounts for asset-freezing purposes, without requiring a separate legal theory. The plunder context is a major criminal probe, not a licensing technicality, which means the AMLC used its most serious available charge to justify the action.…

Sources: Google News

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