October 6, 2021 | 12:00am
MANILA, Philippines — The Philippine Stock Exchange (PSE) has warned investors against blockchain schemes, saying its name is even being used to solicit investments from the public.
In a recent circular, the PSE said it received reports that an individual has been going around representing herself as a member of a project team established by PSE for blockchain digital currency.
The individual is soliciting investments and inviting people to create an account through the supposed project team’s website.
According to the PSE, the individual guarantees investors hefty returns of 20 to 30 percent or $1,000 to $2,000 daily.
“The PSE reiterates that it does not sell cryptocurrencies and that its employees or agents do not promote for purposes of investment, any specific stock, investment instrument or cryptocurrency,” the PSE said in its advisory for the public.
The PSE reminds the investing public to exercise prudence and due diligence in dealing with social media accounts that purportedly offer investments and represent themselves as employees or agents of the exchange.
Both the PSE and the Securities and Exchange Commission (SEC) have been consistently warning the public against fraudulent investment schemes.
The SEC has even set up the PhiliFintech Innovation Office to monitor financial…