Today in crypto, the Philippine Securities and Exchange Commission (SEC) has signaled that the country is ready to accommodate the tokenization of real-world assets (RWAs).
Sonic Labs’ leadership upheaval, which saw three directors step down and the appointment of a new CEO and chief operating officer, saw the S token slide 5%.
In Europe, there are new questions about whether the European Central Bank has played a role in Binance’s MiCA license woes.
Philippine SEC signals readiness for RWA tokenization
Speaking onstage at the Philippine Blockchain Week 2026, SEC Commissioner Rogelio Quevedo said the agency was “now fully convinced that we have the proper law [and] the proper regulatory mind and background” to accept asset tokenization. He said the technology could spur innovation in the capital markets and “revolutionize” stock exchanges.
In a follow-up interview with Cointelegraph, Quevedo said tokenized investment products could provide overseas Filipino workers (OFWs) with more legitimate investment options.
“Our OFWs, they have the capital. They do not know where to place their money. They do not know how to make their money earn,” he said, pointing to investment scams that have targeted Filipinos seeking returns,” Quevedo said.
Philippine SEC Commissioner Rogelio Quevedo (left) and Cointelegraph’s Ezra Reguerra (right) at the Philippine Blockchain Week 2026. Photo: Cointelegraph
“We are also using artificial intelligence to go after these unscrupulous scams,” he added, stressing that the SEC was working with Google, TikTok and other online platforms to remove illegal investment offerings.
The remarks framed regulated tokenization as both a capital-markets innovation and a potential investor-protection tool in the Philippines, where authorities have taken action against unregistered investment platforms.
S token drops 5% as 3 former execs resign from Sonic Labs board
The S token, the native utility asset behind the Sonic blockchain, dipped on Friday after Sonic Labs announced the resignation of three former executives from its board.
The S token fell to 0.031, down 5% over 24 hours. The resignations include Michael Kong, a former CEO of the Fantom Foundation and director at Sonic Labs; David Richardson, who served as executive chairman of Sonic Labs; and Andre Cronje, who previously served as its chief technology officer.
Statement from Andre Cronje about his resignation from the board. Source: Andre Cronje
“These are the people who built what Sonic is today. They remain invested in Sonic’s success and are handing off their responsibilities the right way, in full. From here, they will no longer make business decisions for the organization,” Sonic Labs said as it announced Matt Visser as its new CEO and Kosta Kourkoumelis as chief operating officer.
Sonic Labs is overhauling its leadership and governance structure as it attempts to address growing community dissatisfaction and a prolonged decline in its S token, which has fallen 97% since launching in January 2025 as part of a network upgrade.
Franklin Templeton pursues Bitcoin-linked ETFs
Asset manager Franklin Templeton has filed for two exchange-traded funds (ETFs) that would convert dividend income from US stocks into exposure to Bitcoin, expanding the range of institutional investment products tied to the digital asset.
According to filings with the US Securities and Exchange Commission (SEC), the Franklin US Equity Bitcoin DRIP Index ETF and Franklin US Innovation Bitcoin DRIP Index ETF would track indexes that automatically reinvest dividends, allocating 95% of assets to US equities and 5% to Bitcoin.
The funds could gain Bitcoin exposure through several instruments, including spot Bitcoin ETFs, futures contracts and Bitcoin-backed depository receipts.
The filing comes as demand for Bitcoin investment products has cooled markedly in recent months, highlighting a slowdown in institutional appetite. According to SoSoValue, US spot Bitcoin ETFs recorded six consecutive weeks of net outflows through June 18.
US spot Bitcoin ETFs have recorded heavy outflows since mid-May. Source: SoSoValue
