Will bitcoin be banned on Philippines?

[Ryker1]

Honestly, if a bitcoin ban happens in the Philippines that would be a grave disaster to the Filipinos. The country is a financially wretched one with some of its citizens barely trying to survive of this new found oxygen - Bitcoin. A ban would even mean nitcointa losing some of the Filipinos here. Yes, I know some people believe their contributions on the forums aren't worthwhile but we still have some thriving posters from that country.

For the sake of these few posters, I want to wish that nightmare away.

I agree completely. Banning bitcoin will be a disaster for Filipinos. A lot of Filipinos depends on bitcoin, a lot of them lived and payed expenses using bitcoin. In Philippines, there's only a few job opportunities for them, banning bitcoin for them is too much. Bitcoin cause the poverty to be less in the Philippines. I think it would be not too wise to ban it because a lot of Filipinos expect from it and it is the only source of their income especially to those who are unemployed.

[b3j0]

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.

I think it is not possible now banning bitcoin in this situation many users had bitcoin around the world so we cannot make it a big problem it will solve in a short time and nothing will happen for crypto currencies now.

the government will never ban bitcoin, the government will only make strict rules about bitcoin.

[boksoon]

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 don't think it will be the reason to ban these bitcoins. There are a lot of scams happening in the net that are not related to cryptos and which has much bigger amount of fraud money.
I believe that the organization that is responsible to this, banko Central ng Pilipinas, also interested to these cryptos. However, they warned their countrymen regarding this.

[costanos02]

Philippines definitely not to banned bitcoin, and in present condition of bitcoin in the Philippines, the citizen slowly adopt the cryptocurrency, one good sign of it is Union bank, Union bank slowly adopt bitcoin.

[Anait]

Philippines definitely not to banned bitcoin, and in present condition of bitcoin in the Philippines, the citizen slowly adopt the cryptocurrency, one good sign of it is Union bank, Union bank slowly adopt bitcoin.

Philippines is one among the country where you can find lots of cryptocurrency users. Lot of people from Philippines were making their livelihood with the cryptocurrency. This has been gaining popularity to bitcoin, till date government hasn't found it a threat to their economy. If some situations prevail, regulations might get effective and won't be banned.

[Mystika]

I think it does not happen that bitcoin is being ban here in the Philippines especially and it's easy to use and more familiar with people. Bitcoin also makes the lives of people more comfortable with their lives because it's easier to have or get big interest once to invest in it

[orarider]

I think the Philippine government does not want bitcoin to operate. They can forbid bitcoin. The Philippine government wants to develop their national currency. bitcoin can affect the national currency system, the Philippine economy will have difficulty. So bitcoin will be banned in this country.

[squog]

There is a huge possibility that crypto currency will be banned in that part of the world. Mainly because they might view it as a means to launder money. More than that, there are no taxation laws in the Philippines, as far as i know concerning crypto currencies. I just hope there won't be another country banning crypto currencies.

[supine]

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?

There are lots of negative news about bitcoin in the Philippines but it is really surprising to know that the said country is actually starting to adopt bitcoin as their currency. Actually, bitcoin is growing continually in the said country and is being used by most of Filipinos for their daily necessities. I believe that bitcoin would still go far in the Philippines.

[cryptojac17]

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?

There are lots of negative news about bitcoin in the Philippines but it is really surprising to know that the said country is actually starting to adopt bitcoin as their currency. Actually, bitcoin is growing continually in the said country and is being used by most of Filipinos for their daily necessities. I believe that bitcoin would still go far in the Philippines.

I think this is the first time did happened in the Philippines using bitcoin as a medium of scamming activities, good thing is it was being stopped by authorities and on the way of finalizing the culprit, because it is a cryptocurrency it is traceable and the money trail is easily be traced and hopefully those money that being scammed  might be recovered.

[weblouartisan]

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 think that it is possible for bitcoins or cryptocurrencies to be banned in the philippines since there are allegations about scamming concept in that country and most of the people are losing a huge amount.

[Naman1111]

I  think bitcoin would still go far in the Philippines and is being used by Filipinos widely. Bitcoin is being used as a medium of scamming activities around the world and that can’t be reason in itself for banning crypto bcz it is traceable and the money trail is easily be traced
Though the govt is obviously feel threaten bcz they wants to develop their national currency and bitcoin can affect that. I hope there won't be another country banning crypto currencies.

[jasramos]

Regulated but not banned. Government can't even solve the traffic issues. They should start with educating people on how to avoid investment scams, but nonetheless, the wouldn't be able to stop something that is decentralized.

[Redhead5]

I think there is no such big reason that our country Philippines will be banned bitcoin because this will help greatly to all Filipino's to get extra income with their good initiatives to manipulate bitcoin well. I think what our country would do is to provide laws that may become bitcoin be regulated and eliminate some scams cases that may happen in the process.

[Skyshark]

right. philipin is banned for bitcoin activity. Filipinos are not allowed to invest in bitcoins. The cause is bitcoin affecting the economy of the country. Bitcoins make the currency system upside down. Banks face difficulties in paying for bitcoin. So bitcoin is prohibited in this country.

I don't see why my fellow countrymen haven't learned their lesson yet that this kind of scheme was purely scam. This has happened so many times before in the past. We should know better. But i don't think that this kind of circumstance will ever have an impact of having bitcoin being ban here in my country. No sir it will not. As of this moment, i can say that bitcoin still do exists and not prohibited in the Philippine soil. Good for us.

[Nissan-GTR]

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

Indeed, but as far as I know they just involve thos platform but didnt really perform certain way related to this forum to scam other people, like give me some money and you will be rich,  they just do sales talk and some incentives at first then when the time comes that it will be enough or more the current money that will be the time that they will leave no trace, and I think thats not enough to banned it for the entire country.

[santafewarrior1980]

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

Indeed, but as far as I know they just involve thos platform but didnt really perform certain way related to this forum to scam other people, like give me some money and you will be rich,  they just do sales talk and some incentives at first then when the time comes that it will be enough or more the current money that will be the time that they will leave no trace, and I think thats not enough to banned it for the entire country.

I think not, because i believe the government can not afford to banned bitcoin because there are so many Filipino people engaged in this business and just in case the government will implement the banning of bitcoin i think so many people will get lost of their investment.

[MorganFreemanBeard]

It depends of our government if they think its illegal then they can ban it. If they want to legalize they will make a way, they will charge tax on it.

[Darwinie]

It will be hard if the goverment will continue the fight against Bitcoin community, they keep on finding ways to control Bitcoin. There might be a chance of banning by our goverment but thousanda of filipino will be afftected.

[Darwinie]

It will be hard if thw goverment will continue the fight against Bitcoin community, they keep on finding ways to control Bitcoin. There might be a chance of banning by our goverment but thousanda of filipinl will be afftected.

If that ill be the case. Maybe aill just move abroad. As what i have said thousand of filipino will be affected because housewife mew grads are relaying on BTC.