The Philippines Securities and Exchange Commission (SEC) has issued a warning over a cryptocurrency investment platform that it alleges is offering unregistered securities.
According to an advisory issued Wednesday, the SEC takes aim at at firm dubbed Onecash Trading which, according to its website, aims to recruit investors as affiliated cryptocurrency traders or "builders" who will be rewarded in local currency for recruiting new members of the scheme.
The SEC alert also states that, based on information it has gathered, the firm has been promising potential investors returns of 200 percent interest over eight weeks.
Onecash boasts global coverage across 73 different countries, though its registered headquarters is not known.
https://www.coindesk.com/crypto-investment-platform-violates-securities-rules-warns-philippines-sec/
