Connect with us

News

Embassy in Syria warns vs. investing in PGC virtual currency

Published

on

“The Senate wholly denies the existence of this supposed partnership between it and DCC and firmly denounces any and all claims of Senate participation in such a venture,” Pimentel’s letter reads. (PNA photo)

“The Senate wholly denies the existence of this supposed partnership between it and DCC and firmly denounces any and all claims of Senate participation in such a venture,” Pimentel’s letter reads. (PNA photo)

MANILA— The Philippine Embassy in Syria warned overseas Filipino workers (OFWs) from investing in Philippine Global Coin (PGC), after Senate President Aquilino Pimentel III denied link with the Digital Currency Co., Ltd. (DCC) facilitator of the said virtual currency.

“Allegedly, DCC is marketing virtual currency PGC, enticing overseas Filipino workers to invest in them,” the embassy said in Memorandum Circular No. 14-2018 dated March 5.

Last January 23, Pimentel expressed concern about reports and blogs on Senate’s alleged entry into a partnership with DCC.

In a letter attached with the memorandum circular posted at the official page of Philippine Embassy in Syria, Pimentel wrote Foreign Affairs Secretary Alan Peter Cayetano, denying the Senate’s partnership with DCC.

“The Senate wholly denies the existence of this supposed partnership between it and DCC and firmly denounces any and all claims of Senate participation in such a venture,” Pimentel’s letter reads.

The Senate president recalled that representatives of DCC visited him in his office last November 2017 for a courtesy call.

He noted that usual request for photographs with him were granted.

“I agreed to meet them. They were permitted to take photographs because this is a common request during courtesy calls and there was no reason to refuse their request at the time,” he explained.

In the course of the brief meeting, Pimentel said the DCC representatives discussed plans to promote their virtual currency venture in the Philippines.

Pimentel said he never agreed to support the venture, “whether as a private indivudal nor as head of the Senate.”

“My sole comment on the matter was that the success of any currency would depend on the public’s trust in the people behind the system. At no point did I agree to support their venture, whether as a private individual or as head of the Senate,” he said.

Embassy Charge d’Affaires Crescente Relacion cautioned all Filipinos residing in Syria from participating or investing with DCC, stressing “the latter’s claim of partnership with the Senate is plainly false and patently misleading.” (PNA)

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Lifestyle1 day ago

Nobody Wants This…IRL (In Real Life)

Just like everyone else who’s binged on Netflix series, “Nobody Wants This” — a romcom about a newly single rabbi...

Lifestyle1 week ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle2 months ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...

Lifestyle2 months ago

The True Power of Manifestation

I truly believe in the power of our imagination and that what we believe in our lives is an actual...

Maria in Vancouver3 months ago

DECORATE YOUR HOME 101

By Matte Laurel-Zalko Our home interiors are an insight into our brains and our hearts. It is our own collaboration...

Maria in Vancouver3 months ago

Guide to Planning a Wedding in 2 Months

By Matte Laurel-Zalko Are you recently engaged and find yourself in a bit of a pickle because you and your...

Maria in Vancouver4 months ago

Staying Cool and Stylish this Summer

By Matte Laurel-Zalko I couldn’t agree more when the great late Ella Fitzgerald sang “Summertime and the livin’ is easy.”...

Maria in Vancouver4 months ago

Ageing Gratefully and Joyfully

My 56th trip around the sun is just around the corner! Whew. Wow. Admittedly, I used to be afraid of...

Maria in Vancouver5 months ago

My Love Affair With Pearls

On March 18, 2023, my article, The Power of Pearls was published. In that article, I wrote about the history...

Maria in Vancouver6 months ago

7 Creative Ways to Propose!

Sometime in April 2022, my significant other gave me a heads up: he will be proposing to me on May...