Will bitcoin be banned on Philippines?

[Jericka D Ranillo]

I am a filipino and there is a good news for us, i read recenlty or if im not mistaken its from 3 days after. Bitcoin or crypto currency is let by govenrment to use in our country so meaning to crypto will not ban in the philippines. Economy and volume of traders,investor or can be a bounty hunter will be growth someday. And it contribute to our world crypto economy. O guess big names in philipinnes will know crypto and build a company such as manny pacquio( boxer) is having a touch in cryto

[crazymelons12]

Well there could be a chance for bitcoin to be banned but I don't think I'm completely positive on this. I saw how many people have been scammed not only on bitcoin but on many occasions on many schemes. The government is active on giving announcements on schemes like these. I think it might happen that there will be regulations on bitcoin after these incidents.

[CuriousGeorge]

Well there could be a chance for bitcoin to be banned but I don't think I'm completely positive on this. I saw how many people have been scammed not only on bitcoin but on many occasions on many schemes. The government is active on giving announcements on schemes like these. I think it might happen that there will be regulations on bitcoin after these incidents.

Yeah, there's plenty of people who's entitling themselves as cryptocurrencies community or even saying that they are associated with bitcoin while in reality they're no more than a scumbag scammer who's trying to rip off the money from their own kin.
It's such a sad thing that these lunatic could make bitcoin looks bad to people in their own community.

[imstillthebest]

I am a filipino and there is a good news for us, i read recenlty or if im not mistaken its from 3 days after. Bitcoin or crypto currency is let by govenrment to use in our country so meaning to crypto will not ban in the philippines. Economy and volume of traders,investor or can be a bounty hunter will be growth someday. And it contribute to our world crypto economy. O guess big names in philipinnes will know crypto and build a company such as manny pacquio( boxer) is having a touch in cryto

If crypro is already accepted on that specific country , doesnt mean it wont be banned already? . Of course there is still a posibility that it will banned or restricted if anything bad could happened , like for example if the scamming and other illegal activites related to crypto are growing. other countries like russia and china have been using bitcoin and any other cryptos before but i heard a news recently that cryptocurrency , exchanges and ico's have been banned on these countries lately.  

Banning doesnt also happened on a country but rather it can also happend to a websites online.

[Andrews193]

The Philippines is a country with proper economic development, compared to other countries, the state has an excellent knowledge of the people, in the Philippines, many investors are very talented, but their country Prohibited virtual currency abnormally.

[Pujangga]

The more countries that bitcoin banned then this will not be too big impact, bitcoin users are international and when there is a banned country then this is only detrimental to users of the country.

[turagsoy123456]

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?

For me it's a No. the bitcoin will not ban in the philippines. For that issues because first of all those couple  are using the integrity name of bitcoin to allured their victims. And this people are found guilty with their actions. Maybe the government in the Philipines will apply a law that regulates bitcoin transaction her in the Phillippines. And to educate people to have  a certain knowledges of this new currency the bitcoin.

[Marjo04]

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?

I hope this news can't affect the bitcoin world its okay to be strict for now but banned the bitcoin is no good. I dont know why the victim trust to invest their money easily to a person maybe they should survey first. Bitcoin is not a scam

[Harribel03]

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?

With all of these crimes happen in Philippines, I can say that the government is really open-minded. The present administration wants cryptocurrency to evolve in the Philippines and in contrary, Philippines will involve in the innovations of technology.
I heard this past few months that the government of the Philippines will legalized crypto activities in an economuc zone. I don't know if it somewhere place in Cagayan. But I believe that this certain step is a signal that we are open for changing our economy and future.

[neya]

Because of the scammers here in philippines and use the name of bitcoin to scam people.if has a bad effect.and theres a posibilty that bitcpin will  be banned here because of that scammers.the bsp already give warning for us before investing in bitcoin.

[Kadal Ijo]

Of course this is sad news, bitcoin users in the philippines is one of the biggest in asia so if the Philippines government banned bitcoin it will make the price drop as happened when china or india banned bitcoin.

[raybut37]

Of course this is sad news, bitcoin users in the philippines is one of the biggest in asia so if the Philippines government banned bitcoin it will make the price drop as happened when china or india banned bitcoin.

this is impossible considering that many filipino today are involved in crypto market and the government can't risk the investment of filipino once bitcoin is banned.

[NavI_027]

Despite of how bad that news is, for me this is still not considered as a valid reason to ban bitcoin or even cryptocurrency as a whole in our country. Bitcoin is not literally who did the evil stuff, the scammers do. Btc only served as a tool in their dirty job no more no less. So for me btc should not be banned hence educate the countrymen to become aware in different form of scams so that we can avoid this bad scenarios again.

I hope our goverment still have good impressions to crypto despite of this happening and just only provide some regualtions regarding this instead of banning.

[Bastok]

There’s a chance because of that scam I hope it will not because many people rely their incomes in bitcoin.

I don' t think so that bitcoin will be banned on the Philippines because of the news that we heard  in news or online about people use bitcoin use to scam other filipinos.  Other investor in bitcoin gain profit and earn passive income. Better we focus on our goal instead of listening other negative opinion.

[trolltalk]

I don't think so but there are possibility because many articles and news about bitcoin spread on internet and television that lots people deceived by a bitcoin scam investments because of lack of knowledge about bitcoin they thought bitcoin is only investing and there will be profit after time framed they didn't know that the real investing in bitcoin is no guarantee of turning back.

[pallang]

There are some news regarding Bitcoin investment scam and people keep on complaining but i think the government will not ban Bitcoin because these people who are victims of these scam don't know what the opportunity Bitcoin can give to Filipinos.

[Bitcoin2009]

I hope that the government of the Philippines is not banned bitcoin, it must be admitted that bitcoin users in the Philippines continue to rise and become very popular, and of course the users there get many benefits because it can earn additional income.

[mylyn2327]

I don't think it will happen especially now that Philippines are open to the idea of Bitcoin/cryptos. Those couple will never be the reason for the Philippines to banned Bitcoin because the government of the Philippines proves that bitcoin is nothing to do with their act.

[MonaLeeTracy]

I hope that the government of the Philippines is not banned bitcoin, it must be admitted that bitcoin users in the Philippines continue to rise and become very popular, and of course the users there get many benefits because it can earn additional income.

agree I also think like that, hopefully the Philippine government does not ban the bitcoin is outstanding, because if bitcoin is banned by the government of the Philippines bitcoin sometimes difficult to develop.

[baundul]

Whatever you think, I think it's going to be an exception. The Philippines became one of the earliest nations in the world to publish regulations for cryptocurrency exchanges in early 2017. The deputy director of the central bank, appearing in a televised interview in October 2017, lauded the ‘pioneering regulation’ and said bitcoin, as a monetary instrument, is “fast, near real-time and convenient”.

https://bitcointalk.org/index.php?topic=3405710.0

The Philippines will legalize the entry of 10 blockchain and cryptocurrency companies to operate in the Cagayan Economic Zone Authority (CEZA)

https://www.ccn.com/philippines-legalizes-cryptocurrency-exchanges-in-economic-zone/