Senate has no partnership with digital currency firm, Pimentel clears

Pimentel made this remark after the DCC claimed that it has partnered with the Senate for the release of the PGC. (Photo: Senate President Koko Pimentel/ Facebook)

MANILA— There is no partnership between the Senate and digital currency firm Digital Currency Co., Ltd (DCC) to release a virtual currency dubbed Philippine Global Coin (PGC), Senate President Aquilino Pimentel III said Monday.

Pimentel made this remark after the DCC claimed that it has partnered with the Senate for the release of the PGC.

He said that the digital currency firm also used pictures of Pimentel to support its claims.

“I am shocked at their bold claims of an agreement between us using pictures that politicians normally have with visitors,” Pimentel said in a press statement.

The Senate President explained that he merely met DCC “as a matter of courtesy” to visitors.

He said the Senate cannot issue currency since it was the job of the Bangko Sentral ng Pilipinas (BSP).

Concerned over issues that the DCC might target overseas Filipino workers (OFWs), Pimentel warned them to be wary of those who use the names of government officials and institutions in investment schemes.

“The government will never engage in activities that will profit off their sacrifices and hard work,” he added.

He urged OFWs to always check with the Philippine Embassy to verify individual claims of firms that claim to partner with the Senate to issue currency.