I hope there's no effect in using crypto in our country (Philippines) instead, they were directly seized the groups that implement this Ponzi scheme business which is obviously scam. Just like Forsage investment scheme which is now very well known here in the Philippines. However, you can also read this SEC pdf memorandum regarding those Ponzi scheme operators.
As of now, I can't give a clear insight into what will exactly happen to cryptocurrency adoption. People should learn how to use crypto in a good purpose not for these Ponzi scheme investment that has sweet promises of high returns of your investment using crypto.
Topic: Philippines SEC warns against crypto investment. - page 9. (Read 1110 times)
Last July 1, The Security and Exchange Commission warns the Filipino community in regard to the crypto investment scheme as a claim like a Ponzi scheme.
This is their claims...
"Philippine SEC warns against investment schemes including one based on the Ethreum blockchain it says is a Ponzi scheme.
The Securities and Exchange Commission (SEC) of the Philippines has warned the public against individuals and groups engaged in unauthorized crypto investments and trading, according to an announcement on July 1.
The Philippine SEC warned those who were involved in crypto schemes could face a fine or 21 years of imprisonment or both."
You can read the entire article: https://cointelegraph.com/news/philippine-sec-warns-against-crypto-schemes
I don't know how this will affect the adoption here in the Philippines but it something will give a negative impact as people will also think negatively when they hear and read for this.
Would like to hear your thoughts especially for Filipino members here.
This is their claims...
"Philippine SEC warns against investment schemes including one based on the Ethreum blockchain it says is a Ponzi scheme.
The Securities and Exchange Commission (SEC) of the Philippines has warned the public against individuals and groups engaged in unauthorized crypto investments and trading, according to an announcement on July 1.
The Philippine SEC warned those who were involved in crypto schemes could face a fine or 21 years of imprisonment or both."
You can read the entire article: https://cointelegraph.com/news/philippine-sec-warns-against-crypto-schemes
I don't know how this will affect the adoption here in the Philippines but it something will give a negative impact as people will also think negatively when they hear and read for this.
Would like to hear your thoughts especially for Filipino members here.
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