SEC Issues Advisory Against Autotrade International
Investors’ money are being transferred to a Binance wallet and the “bot” will automatically trade in whatever cryptocurrency.
Investors’ money are being transferred to a Binance wallet and the “bot” will automatically trade in whatever cryptocurrency.
METAPROFIT calls itself a platform that offers deposits and withdrawals based on interest from cryptocurrency.
The firm uses “scalping”—a trading style that specializes in profiting off of small price changes and making fast profit from reselling.
This month alone, the SEC already flagged 4 entities that are leveraging the emerging market of cryptocurrency and play-to-earn games.
The SEC is emphasizing that Future Farming is not registered as a corporation or partnership and is not authorized to solicit, accept or take investments from the public nor to issue investment contracts.
Accordingly, the SEC advised the public not to invest or stop investing in CryptoPayz and in all other entities promoting or applying the same or similar scheme.
The Commission also indicated that the names involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
Recently, the SEC also flagged 2 entities leveraging on the emerging market of cryptocurrency and play-to-earn games.
SEC also emphasized that OUTRACE is not registered as a Virtual Asset Service Provider (VASP) with the Bangko Sentral ng Pilipinas (BSP).
Translated from: SEC Issues Advisory Against ‘Crypto Asset’ Naglabas ang Securities and Exchange Commission (SEC) ng isang abiso sa publiko na maging maingat sa pakikipag-transaksyon sa indibidwal o grupo ng mga tao na nanghihingi ng mga investment sa ngalan ng crypto trading entity na ‘Crypto Asset’. Binigyang-diin ng SEC na ang Crypto Asset ay hindi…