Will bitcoin be banned on Philippines?

[yunaasakaa]

hopefully after that bad incident, the government of your country not just do some direct banning for cryptocurrencies activity in yours area. well, in the term of criminality, not just cryptocurrencies that could do a scam, it is depending of each individual.

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[Dreamchaser21]

I think bitcoin in Philippines may not be banned. Not all, is like that. We can't say that they will banned bitcoin because of that crime.

Philippines should not ban bitcoin because it helps so many people to be financially free, and I know the government will support this thing although they will not encourage people to invest in cryptocurrency simply because of the risk but overall I'm confident Philippine government will support this thing.

[orarider]

I think the Philippine government has not banned bitcoin. They are checking bitcoin closely. Many people here are keen on bitcoin operations. They will make a lot of money when investing in bitcoins.

[mokong11]

Because of that issue they can use it as evidence or negative fact to ban bitcoin in our country philippines because 900million pesos is not a small money so it will probably one of the reason to ban bitcoin or other crypto currency in the philippines but i'm hoping that it will not happen because bitcoin is one of my source of extra income.

[Jimbo Abu]

The government of the Philippines does not ban the Bitcoin because of that scammers couple. I know the government see that bitcoin can help Filipino people. And many of them this is the main source of income.

[RuthaRubenstein]

i dont think so because a large number of the investors are born Filipinos and if they leave this ground, btcs are sure to get a shock

[Singbatak]

I wish banning of Bitcoin here in Philippines won't happen and I pray for it. This is my source of income, if it will happen this is so sad. Hopefully that couple will pay for their sin, they use Bitcoin in their undesirable work

[joykulot]

This is definitely won't happen, and I pray it won't happen. I get income in Bitcoin to help my husband, this is my other source of income. To buy what my family needs and to help for our daily life. I wish it cannot ban btc here in Philippines.

[equoboy]

We cant say it for now but i hope it will not. Its unfair to us that the only thing that we rely is bitcoin. Thats why if you invest,ready your self to lose or of you dont want to lose,search first before ypu invest your money.

[Indai24]

We cant say it for now but i hope it will not. Its unfair to us that the only thing that we rely is bitcoin. Thats why if you invest,ready your self to lose or of you dont want to lose,search first before ypu invest your money.

Hopefully not because most people in the Philippines rely on bitcoin. Bitcoin is our hope and we look forward for our investment to grow more and more and I'm hoping that government will welcome bitcoin and will accept it for good.

[shendy]

I think Bitcoin will not be banned in the Philippines. It's very clear Bitcoin is not wrong, it's just that some people are abusing Bitcoin. So for those who do not know Bitcoin in detail will be negative about Bitcoin. May the Philippine Government be firm in this decision and firmly punish the person with severe punishment.

[cheeseandcrackers]

Do they ban money anytime someone embezzles it somewhere?  Of course not.  Banning bitcoin may happen, but it's never going to stop people from using it.  Which means, banning it wont serve any purpose either as people will still be able to be scammed, somewhere.  Pointless to ban it at all in my opinion.

[goku1525]

Do they ban money anytime someone embezzles it somewhere?  Of course not.  Banning bitcoin may happen, but it's never going to stop people from using it.  Which means, banning it wont serve any purpose either as people will still be able to be scammed, somewhere.  Pointless to ban it at all in my opinion.

Bitcoin in philippines has a big impact on people because reduces unemployed netizen. I think it will not happen ,as the matter of fact some of bank in philippines also have a good thoughts and people start to begin the positve thinking on bitcoin. The purpose of bitcoin is to help people who are less fortunate and serve the people in terms of payment transaction.

[Ajinomoto40]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

The bitcoin in philippines is a big help for those unemployed people, they earning their own profits by their own and that is by the help of bitcoin. So I think that bitcoin shouldn't be banned in philippines because the government in there is aware that bitcoin is running in philippines.

[jlong187]

As I said few times, there must huge amount of changes to take place before the bitcoin will be a worldwide currency...

[Pier7]

I think it won't happen just because of that unfortunate incident, bitcoin is declared legal here in Philippines and i think there are more people who enjoyed the benefits of bitcoin. Just be careful to choose the right exchange platforms to avoid getting scammed. 

[19spawnfeed]

I think it won't happen just because of that unfortunate incident, bitcoin is declared legal here in Philippines and i think there are more people who enjoyed the benefits of bitcoin. Just be careful to choose the right exchange platforms to avoid getting scammed. 

I think bitcoin will never be banned in the Philippines because some big companies are using now bitcoin as payment system like the Central Bank of the Philippines and this is a good news to all the Filipinos who are getting involved in bitcoin.

[ov3rflow9x]

I think reason of banning bitcoin is that it was being banned on some other countries, maybe because government can't control the whole financial system of blockchain

[isidrorex]

In my own opinion as a Filipino citizen, I don't think that Bitcoin and other Altcoins will be banned here in The Philippines. Despite the news about the 900 Million Pesos Bitcoin scam by a Filipino Couple, I don't think the Government will ban Bitcoin because the truth is many Businessmen are already interested and others are already engaging in Cryptocurrency. And besides, that 900 Million Pesos Bitcoin Scam by the NewG Company is already neutralized since the Filipino couple are already in jail and that's why Bitcoin is the "keyword" in their scam is because they promise that the money that the victims "invested" in their company will boom and they will get 30%-50& profit after 16 days and they will be payed through Bitcoin. I think the victims has also their lapses for trusting the suspects because if you really want to succeed in the Cryptocurrency Trading, you have to learn and study on your own so that you can handle your money well and don't trust other people to invest for you. In the age of information, ignorance is a choice.

[btcmura]

Such scams do affect the trust of people on crypto. I am not sure about the government in your country but if there are similar incidents in my country, government may consider banning bitcoins.