Press Release

PRESS RELEASE: SEC Advisories (03 November 2020)

The Securities and Exchange Commission (SEC) has issued advisories against three more groups soliciting investments from the public without the necessary licenses: 



3.     OLYMPRO

Last September, the Commission issued an advisory against MINING CITY for operating without the necessary license. Said advisory also state that the entity “does not appear among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) in accordance with the Guidelines for Virtual Currency Exchanges (BSP Circular No. 944) which requires all entities engaged in Virtual Currencies in the Philippines to obtain a Certificate of Registration to operate as remittance and transfer company pursuant to the BSP rules and regulations”.

This NEW ADVISORY is prompted by numerous reports, inquiries, including posts and videos circulating on social media and video-sharing sites where it has been made to appear that MINING CITY or variations of its name such as, among others, PROPHETEK MINING CITY, OPC and other entities connected with it, have completed the SEC company registration process or have in fact been registered with the Commission.

Contrary to said false representations, MINING CITY, PROPHETEK MINING CITY, OPC or any variation of such name using the root word MINING CITY or any entity connected with it, have not been issued a secondary license to solicit investments or offer securities to the public for whatever purpose as provided under Sections 8 and 28 of the Securities Regulation Code (SRC).

BITCOIN DIGITAL utilizing the domain “ ” is also soliciting investments in the Philippines without the necessary license and/or authority from the Commission.

Similar to BITCOIN REVOLUTION and IMMEDIATE EDGE which are subjects of our previous SEC Advisories, BITCOIN DIGITAL is also an unregulated entity with unknown operators and is using fabricated or fake celebrity endorsements online including Finance Secretary Carlos G. Dominguez III in promoting its scheme.

It claims to be a new “wealth loophole” which offers a lucrative money-making scheme that will help the public build fortunes overnight through its “award-winning” cryptocurrency investment platform or automated-trading program promising a success rate of Ninety-Nine Percent (99%) per transaction similar to the modus of other cookie-cutter websites already flagged by the Commission as scams.

On the other hand, OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING (OLYMPRO), headed by Christian Mark Lacson Peredo, are enticing the public to invest their money, promising 20% interest in just 8 days.

OLYMPRO is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Sections 8.1 of the SRC. Likewise, Christian Mark Lacson Peredo is NOT A REGISTERED OR LICENSED CAPITAL MARKET PROFESSIONAL such as a broker in securities or a salesman, trader or associated person thereof under Section 28.1 of the SRC and is also not authorized to solicit investments from the public.

As always, the public is reminded to be cautious of any and all false and/or misleading investment opportunities offered by these dubious entities.

Those who act as salesmen, brokers, dealers or agents of such unauthorized entities in selling or convincing people to invest in their investment scheme offered including solicitations and recruitment through the internet may be criminally prosecuted and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or both pursuant to Sections 28 and 73 of the SRC.

The public is encouraged to constantly check the Commission’s website at “” and our Official Facebook page “Securities and Exchange Commission Philippines (@PhilippineSEC)” for information and/or guidance before investing their hard-earned monies on any investment schemes and/or programs available relative to our campaign for investor education. (PRESS RELEASE)

DIYARYO MILENYO is a free and independent online media outfit that publishes events happening in the local communities and current issues that matter to the public with local, national and global implications. DIYARYO MILENYO is composed of volunteer journalists and community writers scattered in various parts of the Philippines. They report the news right and where it happens. It adheres to the standards and ethics of journalism. It imposes strict rules against attacking someone. Strictly adhering to publish good news only.

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