Every country gives the same warning about this with every scam. Long before crypto. Like when there were mail letter scams and things the government had to warn the poor and gullible not to part with their money for promises of riches doing easy things anyone can do.
I assume they only ban acts of promoting PONZI crypto projects. Currently, the Philippines as well as other developing countries do not have a legal corridor for crypto. It may take some time for these countries to start crypto education and incorporate crypto into their legislation.
Not actually banning but warning those people.
There are a lot of investing scams happening in our country and people are believing in such too good to be true schemes by the scammers. One of which is this Bitcoin Revolution that became popular for a while. In their endorsements, they are using popular artists of the country including Manny Pacquiao which is not true.
https://pia.gov.ph/press-releases/releases/1045466People who fall for bitcoin revolution deserve it. You can't feel sorry for these people. If you burn yourself on a hot pot and then touch it again right away who is at fault?