Will bitcoin be banned on Philippines?

[money_amount]

I do not know if this is the news that makes bitcoin go down today. But I feel something is suspicious. And we need to verify the news before we read and assume that it is true.

[carlisle1]

I do not know if this is the news that makes bitcoin go down today. But I feel something is suspicious. And we need to verify the news before we read and assume that it is true.

this happens week ago,so it's impossible that this is the reason why the growth stops suddenly and didnt hit the $9,000 mark..and besides whats this hacker got in philippine is only a peanut and wont even make the market moves..

About the OPs question,scammers are everywhere so it's not a ground from a government that just banned crypto when they know how many people are making money here,and because of that scammer they will lost this profiteerings.not this will never happen i guess

[FurDich]

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

I hope it will not be banned because as you said, a lot of people are relying their income to bitcoin and by that they can sustain the needs and wants of their family. As I observed even senators in philippines used crypto. And there is a big chance that bitcoin will be legalized at the philippines.

[Topaz72]

There are news that bitcoin is a scam so people are aware of this bitcoin but i dont think the government of the Philippines will ban bitcoin because as a developing country bitcoin is a great help especially to those who have no permanent job to support their daily needs.

Different people are saying different things about bitcoin, so if they are saying that bitcoin is scamming they should try to use it instead of making wrong assumptions what else we can say to them, as you said Philippines is well developed country so they will never ban bitcoin, for me bitcoin is new currency which is gradually over taking the whole world and so I think it is just a fake news but Philippines is actually accepting bitcoin, fake news are being spread in the markets by the bitcoin haters so don’t listen to them,

[hispout]

I dont think they will ban bitcoin for such reason because btc itself is not a scam and the government officials are aware that some filipinos are earning through it by trading cryptos, its just that this couple used it to deceive people for promising high return of their investment. If you look further those victimized by the couple were also greed to believe its a way to earn easy money. They used btc as a tool and it can also happen to other currencies, pyramiding scheme is quite common strategies of scammer to lure their potential victim and if you are not knowledgeable you might be convince to their too good to be true sort of income.

Philippines should resolve its issue instead of making it more complicated for people. They should restrict their privacies and never leave threats towards their crypto as they are facing with is not a big problem at all but all they should do is their little struggles to make the market thief less and clean it up from scammers. These will really workout for them while banning Bitcoin is not the solution.

[yametekudasai]

We'll never know but the possibilities are still there. Let's just hope that the government won't ban BTC in the Philippines for some rely their income from bitcoin.

[lienfaye]

I dont think they will ban bitcoin for such reason because btc itself is not a scam and the government officials are aware that some filipinos are earning through it by trading cryptos, its just that this couple used it to deceive people for promising high return of their investment. If you look further those victimized by the couple were also greed to believe its a way to earn easy money. They used btc as a tool and it can also happen to other currencies, pyramiding scheme is quite common strategies of scammer to lure their potential victim and if you are not knowledgeable you might be convince to their too good to be true sort of income.

Philippines should resolve its issue instead of making it more complicated for people. They should restrict their privacies and never leave threats towards their crypto as they are facing with is not a big problem at all but all they should do is their little struggles to make the market thief less and clean it up from scammers. These will really workout for them while banning Bitcoin is not the solution.

Well you're right, its not the solution and if they ban the use of bitcoin many filipinos are going to suffer because we all know bitcoin/cryptos is an opportunity to earn money whether as sideline or full time job. Instead of banning they should warned the citizens to stop being greedy and dont risk their money in investment that promising high return, honestly its investors fault why they end up in that situation.

[burong1]

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

as of now i think no it wont be banned here in Philippines but i guess there is a possibility that they will banned it because of the news that bitcoin is scam and because of the news bitcoin will affect so much of us and if they found out that its true they will banned it but i think it will not happen.

[Atits]

We cannot assume or guess Bitcoin will be banned in Philippines at this point of time since there are rumors roaming around about that but there's no official news.

[magmar]

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 not but i think they cannot banned bitcoins without a valid reason right. And besides i have red some news that the bitcoins is legal here in the Philippines but only with the specific wallets tp be used because thats the rules and one of that wallets are coins.ph which i used. And the only thing that makes the government think that the bitcoins must be banned is  because of those scammers that are using the bitcoins bame in orser to scammed and fool people. Ans Filipinos do not believe in that

[zhangxie29152784]

The Philippines will not ban bitcoin, and regulators plan to set regulatory standards for digital assets such as bitcoin.

A complete regulatory system would benefit the long-term development of bitcoin.

[Panchum]

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 bitcoin be banned in the Philippines because bitcoin helps people to have an income. Not only an income but a big profit. The best thing is we can have a chance to be rich in bitcoin.

[Cointertrade]

Philippines does not banned bitcoin but they Due to recent developments, the Philippine Central Bank is reviewing the regulatory standards for Bitcoin, which will have specific standards and regulations to make bitcoin stable and safe. Protect the rights of their citizens to participate in bitcoin

well i guess yes, there is a possibility that they will banned bitcoin here in the Philippines maybe because of the news that they said that bitcoin is scam so maybe that will be the reason why they will banned bitcoin but i guess it will not happen that they will not banned it.

[s2sallbygrace]

Maybe not now or not in the near future but we can't deny the possbility of bitcoin being ban in the Philippines. For me the first reason for it be ban is when bitcoin is use in illegaly and in money laundering. Maybe that's the time Philippine government will decide to ban bitcoin.

[icecube45]

will bitcoin be banned on philippines? I don't think so, why not because it will hamper the progress of the philippines itself and close the possibility of bitcoin advantage or convenience for the people and the government itself.
  government philippines have been quite responsive with the existence of this incident and I appreciate it. what should have been blamed was 50 angry victims rushed to Camp Crame, and asked the Ordonio couple if they could still get back the money then hoping to grow. Why would they be seduced with sweet things, instead of researching them first. yes we also can not justify the ordonio couple for such scams.

[Yari_k]

  Here, as for me, the difference is small. Will be blocked or not.
  Bitcoin and so will use. Though if it is forbidden, it may slightly affect the course.
  But on the other hand, the country quickly began to play with the Beitkoin proceedings.
So you probably will not forbid it.

[Paka1]

Bitcoin is not banned in the Philippines and I do hope it won't happen. Though unfortunate things happened to those investors because of those scammers central bank of the Philippines is not imposing a banned to bitcoin. However,  they are giving advisory to Filipinos to be careful when investing with crypto currency.  Nonetheless, they are seeking more ways on how to secure its citizen with scammers. I  hope bitcoin will grow in the Philippines.

[doraegun]

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?

NO, ever since Banco Central of the Philippines doesn't approve of Bitcoin before of some Illegal Scammer victimized to some Filipino people  using  BITCOIN Name  for their Illegal activities. Central Bank did not approved  because of a lack of security and no Person would appear to being representative of bitcoin that's why they do not involving for this kind of Digital Currency. however, Bitcoin is total circulated here in the Philippines that use by some other people like us who would be able to used and have knowledge to use this, but Banco Central of the Philippines did not given a totally ban and avoid to use bitcoin unless you will commit crimes through Digital Currency Scam in behalf of Bitcoin. that's is the big problem  

[drudgecare4]

It willl be be brutal to ba the whole of btcs for the conspiracy and scams of few btc related issues? Thats not expected

[kaizerblitz]

Maybe, I hope BSP (Bangko Sentral ng Pilipinas) will take action on this problem they will implement a law or regulate on bitcoin user. Bitcoin nowadays use  a tools to scam people especially those one time bigtime investment there no easy method to have a profit instantly you should work hard on that.