Philippine Digest: SEC to draft ICO rules; RCBC eyes $291m rights offer
Stacks of bitcoins sit near green lights on a data cable terminal inside a communications room at an office in this arranged photograph in London, U.K., on Tuesday, Sept. 5, 2017. Photographer: Chris Ratcliffe/Bloomberg
The Philippine Securities and Exchange Commission said it is drafting the guidelines for initial coin offerings in the country instead of totally banning the fundraising activity. Listed lender RCBC, on the other hand, seeks to raise Php15 billion in a stock rights offer.