Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology.
Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts!
Honestly, there's no correlation between the fugitive that hides in PH and PH for being crypto friendly. The article was about the korean fraudster that scammed people with over $33M and even a little bit it won't affect the position of PH government towards cryptos.
So what's with the fuzz?
Aside from the fact that SEC had warned the people to be vigilant from this kind of investment, so in return as an individual we should take precautionary measure.
Warning again? This is what I've usually noticed. In the foreign countries, our fellow Filipino will be sentenced to death after committing a crime whether intentional or just a self defense but when a foreigner committed a crime here they'll be just deported despite of the big damage they bring to us like this $33M scam.
Well I think the death penalty is depend on the crime that's being committed and varies with the country. And so far even our fellow filipinos that scammed other nationalities were just been deported and let government give the rightful punishment likewise vise versa.