On Thursday, the Philippines enacted stricter crypto rules under the new SEC Memorandum Circulars Nos 4 and 5, mandating a CASP license with a capital requirement and reporting of AML. Experts say this new framework in the Philippines lays the groundwork for broader crypto adoption in the country.
Key Components of the New SEC Crypto Regulation
No License- No Business
All crypto asset service providers in the Philippines are now required to obtain a CASP license and adhere to strict disclosure requirements.
The disclosure includes information on asset ownership, risks, and operations; crypto companies are required to submit these documents at least 30 days before beginning marketing.
Investment requirement policy
SEC is ensuring that only eligible firms enter the market, so it has set a minimum paid capital requirement of PHP 100 million. However, the SEC has also provided a mechanism for smaller companies to apply.
Physical office
SEC has stated that crypto companies seeking to provide services are required to have a physical office in the Philippines and pay an initial PHP 50,000 filing fee. An additional annual supervision fee on revenue will be levied by the officials.
Consumer Protection
The SEC and the Anti-Money Laundering (AML) council will monitor the CASP. They will ensure security, professionalism, KYC policy, and fair access for investors.
The bill was initially issued on May 30th and later took effect on June 12. It states that if a token/ crypto behaves like a financial product or security under federal law of the country, it is subject to SEC regulation.
Therefore, the SEC holds the authority to suspend or revoke the CASP license for noncompliance. Guilty CASP will face a fine of up to PHP 100 million and imprisonment for up to five years.
Challenges in Implementing The New Crypto Regulations
Luis Buenaventura, head of crypto finance at super-app GCash, said there will be substantial challenges implementing the new CASP rules.
“Regulation is rarely perfect on day one, but as long as the regulatory authority takes a progressive approach and stays open to refining the framework over time, then I think this signals the Philippines,” said Nathan Marasign, Partner at MLaw Office.
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Dogecoin price holds steady above $0.16, showing resilience amid Tesla’s $30B stock decline and broader market volatility this week.
Dogecoin Price Stabilizes as Tesla Loses $30 Billion Amid Trump’s Tariff Shock
Dogecoin (DOGE) has stabilized above the $0.16 level, showing notable resilience despite broader volatility in the crypto and equity markets.
After briefly dipping to $0.12 last Wednesday, following former President Donald Trump’s surprise announcement of sweeping tariffs, DOGE rebounded and currently trades 4% higher from that weekly low.
Dogecoin price action, April 6 | Source: CoinMarketCap
DOGE resilient price performance aligns with a broader trend: top cryptocurrencies increasingly decoupling from the volatility that plagues traditional equities and commodities.
Tesla Takes $30 Billion Hit as Elon Musk Faces Political Pressure
Tesla (TSLA) stock has emerged as one of the most heavily impacted assets in the wake of Trump’s trade announcement. U.S. equities suffered a dramatic selloff, with the Dow Jones Industrial Average plunging over 3,000 points and the S&P 500 falling by 8% within five trading sessions.
As expected, Tesla (TSLA) stock price took a major hit due to Elon Musk’s prominent role in the Trump administration’s newly-formed Department of Government Efficiency.
Tesla (TSLA) stock loses $30B after Trump’s tariff, April 6 2025 | Source: NASDAQ
With the electric vehicle giant thrust into political and economic crossfire, Tesla shares currently trade at $239, down 4% on the week and 10% over the past 30 days.
At a current market cap of $750 billion, over $30 billion in shareholder value has been erased since the tariffs were announced.
Is Dogecoin Price Finally Decoupling from Elon Musk’s Influence?
Against this backdrop, Dogecoin’s stability above $0.15 has raised questions: is DOGE beginning to decouple from Elon Musk’s influence?
1. Musk’s Influence on DOGE Is Fading
Elon Musk, long seen as a de facto mascot for the Dogecoin community, has historically had influence over DOGE price action.
In past years, events such as Tesla’s earnings calls, SpaceX launches, and even cryptic tweets from Musk often triggered short-term rallies in DOGE price.
But recent events suggest a shift in sentiment. In January 2025, DOGE price briefly tested yearly timeframe peaks above $0.40 after Musk’s government office teased a DOGE logo on its official site.
Speculation quickly spread that Dogecoin might be adopted for government-related transactions. However, Musk personally clarified last week that the administration has “no current intention” of adopting DOGE for official use—promptly quashing those rumors.
Another key factor behind Dogecoin’s decoupling from Elon Musk’s influence is Trump’s private crypto interests In March, the administration announced its “Crypto Strategic Reserve,” which conspicuously excluded Dogecoin. The move was seen by many as a sign that DOGE would not receive institutional or governmental support.
Adding to the sentiment, Trump launched his own memecoins—TRUMP and MELANIA—during his inauguration.
These tokens, alongside WLFI, a pro-Trump crypto PAC, have since dominated the altcoin narrative, effectively crowding out Dogecoin from the political meme coin arena.
This exclusionary stance diminishes the likelihood that Dogecoin will receive direct endorsements or adoption from the current administration, despite Musk’s presence within it.
3. Dogecoin Remains Insulated from Tesla’s Trade War Risk
Dogecoin’s price resilience also stems from its insulation from the economic risks now weighing on Tesla.
While Tesla faces serious exposure to retaliatory tariffs from major trade partners like China and Canada—threatening its supply chain and Q2 earnings—Dogecoin operates independently of such traditional business cycles.
The memecoin’s lack of ties to physical goods, manufacturing, or logistics shields it from geopolitical shocks that affect multinational corporations.
As a result, DOGE appears increasingly insulated from Tesla’s financial performance and the broader trade war fallout.
DOGE Price Forecast: $0.15 support cluster must Withstand Short-term Risks
Dogecoin’s stable price action this week, despite Tesla losing $30 billion in market value, signals a maturing market dynamic. Investors are beginning to view DOGE as an asset less exposed to Elon Musk’s influence and more driven by its own market fundamentals.
From a technical standpoint the current Dogecoin price forecast signals lean neutral-to-bearish.
After a brief 5.14% recovery over three sessions the two consecutive red candles that followed now put the immediate support at $0.15 at risk.
Since closing Friday at $0.16, Dogecoin struggles to hold above the 20-day EMA resistance at $0.17. This rejection at the moving average signals insufficient buying pressure to drive the next leg-up.
Dogecoin price
Beyond that, Dogecin trading volumes remains flat at 402.82 million DOGE, showing weak conviction from bulls.
The True Strength Index (TSI) also slipped to -0.82, a clear sign of continued bearish momentum. With TSI below the zero line, a downside continuation is likely if demand doesn’t resurface soon.
If bears push below $0.15, the next downside target lies at $0.142—where DOGE last found support on April 3. On the upside, bulls must reclaim the $0.17 level to target the stronger resistance cluster between at $0.20, near the 50-day EMA.
Crypto commentator Dr. Altcoin has revealed that payment platform Banxa has secured Pi Network’s KYB approval to sell Pi coin globally. This development is undoubtedly bullish for the altcoin, considering how this could boost the altcoin’s adoption and possibly spark a price surge.
Banxa Secures Pi Network KYB Approval
In an X post, Dr. Altcoin revealed that Banxa is now KYB approved for the Pi network. He explained what this means for the Pi community, noting that people in over 100 countries can now instantly buy the Pi coin with cash through the payment platform. The crypto expert added that this is a game-changer for accessibility and global adoption of the altcoin.
The payment platform joins top crypto exchanges like MEXC and Bitget, which already secured KYB approval for the Pi Network. Dr. Altcoin stated that exchanges BitMart and HTX will likely receive their approval within the next 10 days, which he claimed is a “clear sign” that the Pi Network is moving in the right direction.
As he noted, only KYB-approved companies like Banxa can legally use and trade the Pi coin, which is why this development is significant both for the Pi Network community and the Pi coin price. Meanwhile, only those involved in P2P transactions must be KYC-approved and use non-custodial wallets.
The crypto commentator affirmed that the Pi Network has made security and trust its top priorities from day one by ensuring they verify every user and business through the KYC/KYB process. Based on this, he affirmed that Pi is not just another crypto but one that is building the foundation for a trusted, global adoption.
Why Platforms Are Willing To Go Through The Pi Network’s KYB Process
In another X post, Dr. Altcoin explained why centralized exchanges (CEXs) and platforms like Banxa are willing to go through this “long, strict, frustrating” process for the Pi Network’s KYB approval. He stated that the Pi project focuses on five key pillars, which is why it is generating so much interest.
He mentioned financial inclusion as the first pillar, noting that Pi’s ecosystem promotes universal access to fair, transparent, and efficient digital payment systems. The second pillar is interoperability, with the network scaling digital networks, ensuring fungibility, and enabling seamless financial interactions.
Dr. Altcoin mentioned identity verification, currency programmability, and decentralized financial systems as the third, fourth, and fifth pillars. Meanwhile, the crypto expert highlighted Stellar and OKX as Pi Network’s initiative partners. The Pi Blockchain runs on the Stellar Consensus Protocol (SCP). OKX is the first CEX to receive KYB approval from the Pi Network team.
Amid Banxa’s KYB approval, the Pi Network’s mainnet wallet activation has fueled speculation of a Pi coin listing on Binance. A Binance listing will be huge for the Pi coin, considering how it will further expand the altcoin’s adoption.
