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Based on the information gathered by the Commission,the entity operating under the nameBITCOIN REVOLUTIONwhich primarily doesbusiness in Australia and Europeisalso engaged in investment-taking activitiesin the Philippineswhich is NOT AUTHORIZED by the Commission.Apparently, BITCOIN REVOLUTIONpromotesits investment scheme through the use of fake celebrity endorsementson social media websitesand other platforms.As posted online, BITCOIN REVOLUTION claims that fora minimum investmentof Two Hundred Fifty Dollars ($250.00), investors can earn as much as One Thousand Dollars($1,000.00) or Three Hundred Percent (300%) per day or a total of Nine Thousand Percent (9,000%) per month.BITCOIN REVOLUTIONassertsthat its software enables anyone to trade Bitcoinsand other cryptocurrencieseasily with a success rate ranging between Eighty-Eight Percent (88%) to Ninety-Five Percent (95%)per transaction which makes the profit potential limitlessmakingsome of itsinvestorsmillionaires in just Sixty-One (61) days.BITCOIN REVOLUTIONadded thatitssoftware is designed to eliminatethe need to spend hours analyzing the markets as the program will do all the work for theinvestors. All theyneed to do is to sit back and watch theirprofits grow.Accordingly,the schemeofBITCOIN REVOLUTIONis relative to the offering and sale of securities, in the form of investment contracts, to the publicbecauseitsinvestors need not exert any effort other than to invest or place moniesin the said companyin order to deriveincome.As such, Section 8 of the Securities Regulation Code (SRC)requires that saidofferand sale of securitiesmust be duly registered with the Commission and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public.Per record of the Commission, BITCOIN REVOLUTIONisNOT REGISTEREDas a corporationor partnershipand isNOT AUTHORIZEDto solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC)because it doesnot havea secondary license from the Commission to solicit investments or other securities from the public for whatever purpose as provided under Sections 8 and 28 of the SRC.
Records also show that BITCOIN REVOLUTIONDO NOT APPEARamong the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) in accordance with theGUIDELINES FOR VIRTUAL CURRENCY EXCHANGES (BSP CIRCULAR NO. 944)which requires all entities engaged in Virtual Currencies in the Philippinesto obtain a Certificate of Registration to operate as remittance and/ortransfer company pursuant to the BSP rules and regulations.Again, it must be emphasizedthat any unauthorized dealings involving digital assetslacks consumer protection because these arenot covered by prudential and market conduct requirements applicable to licensed and authorized activities.Hence, the Commission isconstantly monitoring and overseeing the matter in away that it sees as properin order to ensure the stability of ourfinancial sectorand to prevent any unauthorized investment taking activities and/or Ponzi schemes in the country.The public must be aware thatthe digital asset marketis highly volatile and unstable. Thus, investing with Bitcoinand other cryptocurrenciesinvolvesmany risks, and are not always a guarantee.This is the reason why many are lured in investing with BITCOIN REVOLUTION and other entities which offers similar toolsor trading software.The public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by BITCOIN REVOLUTIONor anyotherentities engaged in digital asset trading whichpromises ridiculous rates of return with little or no risk.In addition, those who act as salesmen, brokers, dealers or agents ofBITCOIN REVOLUTIONin selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos(P5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC. Also, those who invite or recruit others to join or invest in suchventure or offer investment contracts or securities to the public may incurcriminally liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court inthe case of Securities and Exchange Commissionvs. Oudine Santos(G.R. No. 195542, 19 March2014).The names of all those involved will also be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.Should you have any information regarding any investmentsolicitation activity by any individualor group of individuals representing BITCOIN REVOLUTION, please call the Enforcement and Investor Protection Department (EIPD) at telephone number (02) 8818-6047 or send your report to the EIPD at epd@sec.gov.ph.For the guidance of the public. Pasay City, 30March 2020