China to block cryptocurrency platforms that allow centralized trading: Bloomberg

UNTV News   •   January 16, 2018   •   4305

BEIJING (Reuters) – Chinese authorities plan to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading, Bloomberg reported Monday citing sources.

Chinese authorities will also target individuals and companies that provide market-making, settlement and clearing services for centralized trading, Bloomberg reported.

Last year, Chinese regulators banned initial coin offerings, shut down local cryptocurrency trading exchanges and limited bitcoin mining – but activity in the cryptocurrency and bitcoin space has continued through alternative channels in China despite the crackdown.

Reporting by Beijing Monitoring Desk; Editing by Nick Macfie

DOF warns public vs bogus cryptocurrency platform

Robie de Guzman   •   May 20, 2020

MANILA, Philippines – The Department of Finance (DOF) has warned the public against an article alleging that the Philippines is creating a platform for its citizens to invest in cryptocurrency.

In a statement, the DOF said the article claiming that the government has created a platform called “Bitcoin Lifestyle” is fake news.

“There is no such effort by the government,” Finance assistant secretary Antonio Joselito Lambino II said.

“We categorically deny that there is such a move, and warn the public against potentially harmful financial transactions with those behind the article,” he added.

The DOF said the fake news article also stated that President Duterte is “urging all citizens of the Philippines to learn about the platform to get involved.

The article also claimed that the “tax revenues will be huge and will benefit all citizens” and “will go to the financing of Philippines’ retirement and to counteract the crisis of learning support services.”

“This is false. We urge the public to exercise caution in their investments, and to keep their expectations of returns realistic,” Lambino said.

The Finance official also urged the public to report similarly suspicious investment schemes to the Enforcement and Investor Protection Department of the Securities and Exchange Commission (SEC), with telephone number 8818-5704.

“We warn unscrupulous individuals and groups attempting to lure the public into unauthorized and deceptive investment schemes that the government is monitoring the public space for such schemes, and will take appropriate legal and regulatory action,” he added.

Chinese community appeals against discrimination amid nCoV threat

Aileen Cerrudo   •   February 3, 2020

Several members of the Chinese community is appealing against the discrimination they are experiencing amid the novel coronavirus (2019-nCoV) threat.

“Mas deadly pa sa coronavirus ang nangyayaring diskriminasyon at sinophobia, iyong Chinese bashing. Papaano kung iyong Pinoy maputi at singkit, kababayan mo pala tapos kung i-bully mo, (The discrimination and the sinophobia—the Chinese bashing is more deadly than the coronavirus. What if the Filipino has fair complexion and narrow eyes? He is your fellow man yet you would bully him), ” According to founding president of Kaisa Para sa Kaunlaran Incorporated, Teresita Ang See.

She also said that instead of letting discrimination prevail, everyone should unite in fighting against the virus.

Meanwhile, Henry Lim Bon Liong of the Federation of Filipino-Chinese Chamber of Commerce and Industry believes that the discrimination is not against the Chinese community but against the virus.

He said that there are those who just want to protect themselves from the virus without any intent of discriminating the Chinese community.

“There’s one media man who asked me that some Grab taxi doesn’t want to take in Chinese looking passengers. Sabi ko siguro, hindi naman discrimination sa Chinese (I said it might not be a discrimination against the Chinese),” he said.

“Because the virus originated from China, so they just want to protect themselves,” he added.—AAC (with reports from Asher Cadapan Jr.)

BI to deport 4 foreign nationals wanted for fraud

Robie de Guzman   •   January 14, 2020

MANILA, Philippines – The Bureau of Immigration (BI) on Tuesday said it is deporting four foreigners who are all wanted for fraud by authorities in their respective countries.

In a statement, Immigration Commissioner Jaime Morente said these individuals, three Chinese nationals and one Korean, were arrested in separate operations launched in the cities of Manila and Pasay by operatives from the bureau’s fugitive search unit (FSU).

The three Chinese nationals were identified as Lin Wengao, 41; Zhang Sen, 38; and Zhang Gaosheng, 39.

The BI said the trio was arrested by virtue of warrants of arrest issued by the Chinese government for alleged involvement in economic crimes.

Citing information from the Chinese embassy in Manila, Morente said the three Chinese nationals conspired to forge a seal of a hospital in China as a result of which they managed to defraud their victims of more than 10 million RMB or nearly US$1.5 million.

Investigation revealed that the three aliens arrived separately in the country last year as tourists.

All of them are undocumented aliens as their passports were already canceled by the Chinese government, he added.

Meanwhile, Morente also bared the arrest of Korean national Woo Yong Wook, 45, who is also wanted for fraud by authorities in Seoul.

FSU agents arrested Woo on Friday, January 10 in Malate, Manila pursuant to a warrant of deportation issued against him by the BI board of commissioners.

Woo was ordered deported after the Korean authorities informed the BI that he is wanted for allegedly masterminding a fraudulent investment scheme wherein the victims lost more than a billion Won.

“We will deport them immediately and they will be included in our blacklist to make sure that they won’t return to the Philippines,” Morente said.

BI FSU chief Bobby Raquepo said that the four were the first batch of fugitives to be arrested in 2020.

In 2019, the BI said it arrested more than 400 alien fugitives hiding in the country.

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