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MY PROFIT ROBOT
MY PROFIT ROBOT is NOT REGISTERED as a corporation or partnership and has NO SECONDARY LICENSE to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities.

Date Posted: 21 April 2020

MY PROFIT ROBOT

MY PROFIT ROBOT

SEC Facebook

Based on information gathered by the Commission
,
MY PROFIT ROBOT
(MPR)
is
engaged in
UNAUTHORIZED
inv
estment

taking
activities
in the
Philippines
.
MPR
claims that it
is a unique trading robot that automatically trades your
crypto currencies 24/7 at some exchanges using
BXTCoin
s
and
PROPERTY
ARBITRAGE
as their trading platforms. It
further claims that it
is involved in the
buying and selling of crypto currencies over several markets in order to make a profit
from small to massive price differences across different markets.
As posted online,
MPR
claims that it is a profitable robot having profitable
gain
s with an
average daily profit of 1%
per day
or 365% per annum
. To
earn,
you will need to purchase their
MPR
for T
wo Hundred Dollars (US$
200.00)
or
its equivalent in Philippine Currency
for a 6 month
license, then you will have to
make a deposit of bitcoin in your
BXT
wallet
, after which they will do the trade for
you.
To illustrate, your initi
al investment of Five Thousand P
esos (Php 5,000.00)
will yield a profit of One Thousand Seven Hu
ndred Thirty Nine P
esos (Php 1,
739.00)
in Thirty (30
) days or a daily profit of 1
%
to as much
as Twenty Thousand Twenty
Two P
esos
(Php 20,022.00)
in Six (6) months. To wit:
MPR
proudly claims that it is the most trusted and reliable robot to automate
your arbitrage trading since
its software can execute transactions way faster,
calculate fees and price slippage and monitor lots of different pairs at the same time
.
MPR
is constantly looking for price differences between exchanges in order to find a
profitable situation and executes it immediately in order for their investors to gain
profit.
In addition, their investors through their
REFERRAL PROGRAM
may also
earn un
der the
SHARE MY PROFIT ROBOT
and receive up to
Thirty Five P
ercent
(35%) commission on sales.
Accordingly,
the
scheme
s
presented by
MPR
involves the
offering and sale
of securities
in t
he form of investment contracts
to the public
because it
entices
them
to invest their monies on
BXTCoin
s
and
Prop
e
rty Arbitrage
and
whether
the
BXTCoin
s
be treated
a
s a
cryptocurrency
irrespective of its unique characteristics
,
the
SEC ADVISORY
on
Initial Coin Offerings
and
Virtual Currency
posted
08
January
2018
specified that
some
virtual currencies, based on the facts and
circumstan
ces surrounding their issuance
,
follow the nature of a security as defined
by Section 3.1 of the Securities Regulation Code (SRC)
.
Hence
,
Section 8 of the
same Code
requires that
the
said
offer and sale of
such
securities must be duly registered with the Commission
and
the
concerned
corporation and/or its agents
must
have appropriate registration and/or license to sell
such securities to the public
.
However, p
er
record
s
of the Commission
,
M
Y
P
ROFIT
R
OBOT
is
NOT
REGISTERED
as a corporation or partnership
and
has
NO SECONDARY LICENSE
to solicit, accept or take investments/placements from the public nor to issue
investment contracts and other forms of securities defi
ned under Section 3 of the
Securities Regulation Code (SRC)
.
L
ikewise
,
the name
MY PROFIT ROBOT
DO
ES
NOT APPEAR
among the
registered banks, exchanges or companies engaged in digital assets with the
Bangko Sentral ng Pilipinas (BSP) in accordance with
the
GUIDELINES FOR
VIRTUAL CURRENCY EXCHANGES
(
BSP CIRCULAR NO. 944
)
which
requires
all
entities
engaged in Virtual Currencies
in the Philippines
to obtain a Certificate of
Registration to operate as remittance and transfer company pursuant to the BSP
rules and regulations.
Thus
, t
he
public is advised
NOT TO INVEST
or
STOP INVESTING
in any
scheme offered by
any entities operating under
MY PROFIT R
OBOT
or such other
entities engaged in
similar activities or initial coin offerings
and digital asset trading
which
are not
compliant
with the BSP and the Commission.
The public must be wary
that
a
ny
promise
of
ridiculous rates of return with
little or no risks
is an indication of
a
Ponzi Scheme
where monie
s from new
investors are used in
pay
ing
fake “profits” to earlier investors
.
Also, any promise
that
defies the normal financial logic is surely unreliable and sketchy.
It must be clear that
entities
engaged in such
activities
likely tend to disappear
shortly
to the prejudice of their
stakeholders
.
Consequently
, the
Commission encourages the publ
ic to be prudent in
mak
ing or placing their monies on
these
entities
e
specially during th
is pandemic
.
Violators are
warned that
aside from the strict penalties imposed
by the
Commission
for violations of the
Securities Regulation Code, the Revised
Corporation Code, and such other rules and regulation
it enforces
, the
Bayanihan to
Heal as One Act
(
Republic Act No. 11469
) also
punishes
those participating in
cyber incidents that make use or take advantage of the
current crisis situation to prey
on the public through scams, phis
h
ing, fraudulent emails, or other similar acts
.
In addition
, t
hose who act as salesmen, brokers, dealers or agents of
such
unauthorized
entities
in selling or convincing people to invest
in the
ir
investment
scheme
offered
including solicitations and recruitment through the internet may
likewise be criminally prosecuted
and penalized with a maximum f
ine of Five Million
P
esos
(P
hp
5,000,000.00) or
a
penalty of T
wenty

O
ne (21) years of impris
onment or
both pursuant to
Section
s 28 and
73 of the SRC.
Further
, those wh
o invite or recruit others to join or invest in such
venture or
offer investment contracts or secu
rities to the public may incur
c
riminally liability
,
or
otherwise be
sanct
ioned or penalized accordingly
as held
by the Supreme Court in
the case of
S
EC
vs. Oudine Santos
(G.R. No. 195542,
19 March
2014)
.
T
he names of all those involved will
also
be reported to the Bureau of Internal
Revenue (BIR) so that the appropriate penalt
ies and/or taxes be correspondingly
assessed.
Should you have any information regarding any investment
solicitation
activity
by any individual
or group of individuals representing
any entities operating under
MY PROFIT ROBOT
,
please
send your report to the EIPD at
epd@sec.gov.ph
.
For the guidance of the public.
Pasay City,
21
April
2020