Philippines SEC Issues Cease and Desist Order on PAYASIAN/PAYA COINS

Philippines SEC Issues Cease and Desist Order on PAYASIAN/PAYA COINS

[Update] March 29, 2020 – The Securities and Exchange Commission (SEC) released a cease and desist purchase against PAYASIAN for offering an unauthorized investment scheme involving a supposed “cryptocurrency” called PAYA COINS.

On March 20, 2020, SEC ordered Payasian to immediately cease and desist for “further participating in, promoting, and facilitating attempting to sell and/or offering for purchase securities in the form of investment contracts and/or other activities/transactions.”

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