SEC Issues Public Advisory vs ‘CRYPTO MARKETERS’ Company

SEC said “CRYPTO MARKETERS” is not a registered entity and the Philippines and does not have the authority to solicit investments from the public.


Subscribe to our newsletter!

[newsletter_form type=”minimal”]

The Securities and Exchange Commission (SEC) has released a public advisory against CRYPTO MARKETERS / CRYPTO MARKETERS WORLDWIDE, after the Commission found out that the entity is offering investments and is enticing the public to invest their money without the necessary licenses to do so.

“CRYPTO MARKETERS / CRYPTO MARKETERS WORLDWIDE is offering investments to the public with a minimum amount of $20, promising income of 1.5%-2% daily, amounting to 45% earnings in just 30 days. The said entity offers packages of up to $1,000,” the regulatory agency stressed in a statement. 

Among the services and products that Crypto Marketers are offering, the following are on the list that the SEC has noted as unlawful: 

  • Subscription packages ranging from a minimum investment of $50 up to $1,000.
  • Earn passively through: 
    • 2% daily dividend from Vault Balance.
    • 10% auto distribution from PACKAGE PURCHASE by any member.
    • 10% auto distribution from WITHDRAWAL by any member.
    • 10% auto distribution from COMPOUNDING by any member.
  • Direct referral rewards of 10%.
  • VIP Bonus, which entails an award of $100 and 5% earnings from all subscription packages of all direct and indirect recruits.
  • Maximum share, which limits the income depending on the package availed of to give way for other members to earn more, requiring members to continuously avail of packages.

“The transactions stated above are considered securities in the form of “investment contracts” which must be registered with the Commission. The elements of an investment contract are all present as there is an investment of money into the common enterprise, known as CRYPTO MARKETERS / CRYPTO MARKETERS WORLDWIDE, with the expectation of 1.5%-2% daily, amounting to 45% earnings in just 30 days,” the Commission emphasized.

According to the country’s regulatory agency, Crypto Marketers and Crypto Marketers Worldwide are not registered as a corporation or partnership, and are obviously, not authorized to solicit investments from the public. 

The Commission also warned individuals who referred to themselves as representatives of the entity in selling or convincing people to invest in the said firm may be held criminally liable under Section 28 of the SEC and punished with $5 million or 21 years in prison.

“Hence, the public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it,” the SEC concluded.

This is not the first time that the regulatory agency has flagged down an entity for selling securities without the proper license required. To read more about SEC advisories, visit: https://bitpinas.com/tag/sec/

This article is published on BitPinas: SEC Issues Public Advisory vs ‘CRYPTO MARKETERS’ Company

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

Similar Posts