Pimentel warns: No partnership with digital currency firm

Senate President Aquilino “Koko” Pimentel III. (File photo from the Philippine Daily Inquirer)

Senate President Aquilino “Koko” Pimentel III has vehemently denied that he or the Senate had a partnership with the Digital Currency Co., Ltd. (DCC) for the release of a virtual currency called the Philippine Global Coin (PGC).

Though he had met with people from DCC as a “matter of courtesy to visitors,” Pimentel said, “There is no partnership between me and DCC, or the Senate and DCC.”

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

Pimentel explained that the Senate could not issue currency since it is the mandate of the Bangko Sentral ng Pilipinas.

The Senate leader issued the statement for fear that the firm might target Overseas Filipino workers.

“I ask our OFWs to be wary of those who use the names of government officials and institutions in investment schemes,” he said.

“The government will never engage in activities that will profit off their sacrifices and hard work. Always check with the Philippine Embassy to verify individual claims of this nature,” the Senate leader added.                        /kga