Naging matunong sa balita maging sa social media ang Senate Bill na ito dahil na din na maaaring ma-apakan yung basic rights natin sa 1987 Constitution under Section 4 about freedom of speech at sa right ng mga tao mag-protesta sa sariling gobyerno na nung June 5 kahit hindi pa napapasa yung Senate Bill 1083 ay may mga
nakulong ng estudyante galing UP sa Cebu. With both legislative departments (Senate and Congress) approving the bill ang kulang nalang ang pirma ng ating presidente para maging batas ito kaya dapat maging ma-ingat na tayo lalong lalo na pag-dating sa ating mga assets dahil literally kahit sinong normal na mamayanan ng Pilipinas ay maging "person of interest" ng gobyerno.
When I say anyone can be a person of interest aka a suspect sa pagiging terrorista sinasabi ko na lahat tayo ay pwedeng maging under surveillance as well na din ma-violate ang ating right of privacy from communications. Siguro pag tumingin kayo sa Facebook ngayon maaaring nakita niyo na may mga kaibigan kayong nag-rereport na may mga
fake accounts na nakapangalan sakanila? Hindi natin alam kung sino ang may gawa nito pero ang mga fake accounts can be used for impersonation and spread misinformation under your identity at dahil na din naka-pangalan sayo iyon, litrato mo iyon, at kaibigan din ng fake account na iyon yung kaibigan mo sa Facebook account mo pwede ka ng maging "person of interest" or suspect sa mata ng otoridad.
Why Will SB 1083 Be a Concern to Custodial Wallet Hodlers?
Sec. 36. Authority to Freeze.
Upon the issuance by the court of a preliminary order of proscription or in case of designation under Section 25 of this Act, the AMLC, either upon its own initiative or request of the ATC, is hereby authorized to issue an ex parte order to freeze without delay: (a) any property or funds that are in any way related to financing of terrorism as defined and penalized under Republic Act No. 10168, or any violation of Sections 4, 5, 6, 7, 8, 9, 10, 11 or 12 of this Act; (b) property or funds of any person or persons in relation to whom there is probable cause to behave that such person or persons are committing or attempting or conspiring to commit, or participating in or facilitating the financing of the aforementioned sections of this Act.
The ATC (Anti-terrorism Council) may designate an individual, groups of persons, organization, or association, whether domestic or foreign, upon a finding of probable cause that the individual, groups of persons, organization, or association commit, or attempt to commit, or conspire in the commission of the acts defined and penalized under Sections 4, 5, 6, 7. 8, 9, 10, 11 and 12 of this Act.
The assets of the designated individual, groups of persons, organization or association above-mentioned shall be subject to the authority of the Anti-Money Laundering Council (AMLC) to freeze pursuant to Section 11 of Republic Act No. 10168.
Ang Bill na ito pag naging batas magkakaroon ng kapangyarihan ang gobyerno natin na i-withhold ang ating mga ari-arian, pera, lupa, or stock in short lahat ng assets natin basta maging suspect tayo sa mga mata nila. This includes not only bank accounts under your name pati narin ang pera mo digitally from GCash, PayMaya, at kasama narin ang Coins.PH wallet ninyo which is a custodial wallet dahil hindi niyo naman hawak private keys niyo dito. Ang gobyerno under AMLC ay may kapangyarihan utusan ang bangko ninyo, stock broker ninyo, ang kumpanya ng Globe, Smart, at Coins.ph na i-freeze ang mga account ninyo upon suspicion of being a terrorist. You as a suspect ay wala kang kapangyarihan na makuha ito not until you clear your name in front of the court.
How Will a Non-custodial Wallets or Hardware Wallets Help?
Ang non-custodial wallet being decentralized in nature gaya ng Electrum or hardware wallets like Ledger Nano S or Trezor Model T will basically make AMLC powerless pag dating sa pag-control ng cryptocurrency mo. Why? It's decentralized not only na ikaw lang ang may hawak nito ikaw lang din ang nakaka-alam ng private keys at recovery phrase mo meaning kahit kunin pa nila yung laptop mo or hardware wallet mo maaari mo pa din ma-access ang cryptocurrencies mo with the use of your recovery phrases. At least pag maging suspect ka man (knock on wood) at ma-freeze lahat ng assets mo meron kang cryptocurrencies na makakatulong sa iyo to fund yourself with a better lawyer or for your family to be able to afford bail. Generally para na din sa other assets mo like cash hindi na ito yung tamang panahon para ilagay mo lahat ng pera mo sa isang lugar kung saan may kapangyarihan ang AMLC to freeze it, even though I'm against the idea of keeping some extra cash lying inside my house I think this should be a wise option now.