Notice to the Public
This refers to the information circulating online about the “Noah Coin,” which purports to be a virtual currency being offered for “pre-selling” to the Japanese market.
In response to inquiries received from the general public in Japan, the Embassy sought further clarifications from the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) and the Securities and Exchange Commission (SEC).
According to the BSP, it has not issued authorization to The Noah Foundation and/or Noah Global Innovation Services Inc. (Noah Global) to engage in the pre-selling of Noah Coins nor recognize that Noah Coin is a national project. Initial investigation and research made by the BSP shows that the pre-selling activity of Noah Coins is not within the primary and secondary purpose of Noah Global as indicated in its articles of incorporation.
Based on the inquiry made by BSP from SEC, Noah Global has no secondary license or authority in selling and trading of bonds, securities and similar instruments,
In addition, Noah Global is not in the address they indicated in their SEC registration. Ocular inspection and surveillance operations conducted in the declared business address of Noah Global (10/F, Net Lima Bldg., 5th Avenue corner 26th Street, Brgy. Fort Bonifacio, Taguig City) reveals that the same is not a tenant of Net Lima Building.
In light of these findings, the public is requested to be vigilant in engaging in digital financial transactions and is urged to check websites of relevant government agencies in the Philippines such as the BSP (http://www.bsp.gov.ph/) and the SEC (http://www.sec.gov.ph/).
