Re: Philippines SEC warns against crypto investment.

Quote from: ultrloa on Today at 12:58:45 PM

Quote from: sheenshane on Today at 12:26:24 PM

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.

The said site hasn't been reported yet and it's spreading like a virus on social media since there are networker's joining the system so expect there are so many of them will get scam. This kind of site will not benefit on cryptocurrency since if this investment site will scattered in Philippines the adoption and hard regulation will surely be imposed and that would be bad for crypto users in PH.

I will not surprised to see that the SEC and the Philippine Government will impose new regulations about cryptocurrencies, the victims of different scammers are keep increasing and for sure that the government will now make a move to protect their citizens from those scammers.

Many scam investments are spreading through social media platforms during this pandemic, there are a lot of people who are easily believe to this investment because they are not financial literate where they want to gain big amount of money in just a short period of time.