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Overseas Filipino Workers warned against cryptocurrencies

GDN Online Desk

Muscat: The Philippine community living in Oman have been warned against the risks of investing their savings in virtual cryptocurrencies.

The Muscat-based Philippines Embassy issued an advisory cautioning Overseas Filipino Workers (OFWs)against embarking on such a risky step.

The embassy’s statement cited particularly the “Philippine Global Coin”, saying that the digital currency targets the Philippine community living and working abroad.

“In light of reports received by Philippine government authorities on a partnership allegedly entered into by the Philippine Senate and Digital Currency, Co (DCC), the Philippine Embassy in the Sultanate of Oman informs the Filipino community that the Senate wholly denies the existence of the supposed partnership and firmly denounces any and all claims of Senate participation in such venture”, said the statement which was quoted by Muscat Observer.

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