The Philippines Investigates Whether Cryptocurrencies Misuse Senate Speaker Names

nBankruptcy comment: Philippine local media reported that a local cryptocurrency company suspected of illegal use of Senate Speaker Aquilino’s name to induce customers. The Justice Department has ordered the investigation, and Aquilino has also come forward to clarify that neither the Senate nor the Senate has anything to do with the company. And show the government’s position, warned citizens to be wary of investment projects of this nature and go to the embassy to verify the relevant project information at any time.n
nTranslation: Annie_Xun
The Department of Justice of the Philippines (DOJ) ordered the investigation of a cryptocurrency company allegedly seduced by the name of Senate Speaker Aquilino Pimentel III.n
ABS CBN News reported that under the order issued by the department, the politician’s name, commonly known as “Koko” Pimentel, was abused by Digital Currency Co. Ltd. and Philippine Global Coin, a cryptocurrency company of Boy Joven.n
Pimentel denied any connection with the cryptocurrency company, saying “there was no partnership” with the company or the Senate and the company.n
He further said in a statement on Monday that Digital Currency Co. Ltd has “shocked” its “bold statement” by having seen company representatives but only out of “courtesy to visitors.”n
Pimentel warns Filipino workers across the globe to be wary of investments that use government officials or agency names.n
n”The government will never participate in any activity that takes advantage of their sacrifices and hard work, and will always go to the Philippine embassy to verify that nature.”n

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