Skip to main content

SEC warns public vs Xian Coins

 


DAVAO CITY, Nov 25 (PIA)- The Securities and Exchange Commission (SEC) has warned the public on investing in Xian Coins (XNC) which the Commission has issued a cease and desist order against it.


The order was issued to owner and founder Christian Albert Soriano Gaza popularly known as Xian Gaza, representatives, salesmen agents, uplines, enablers, influencers, and any and all persons claiming and acting for and on their behalf.


Xian Coins is claiming to be a centralized digital currency powered by Etherium Blockchain that is exclusively traded by its coin holders. The holders of Xian Coins are promised that they will benefit from high range of price stability, and appreciation of value as it is taking advantage of a single centralized supply chain.


The Xian Coins are considered as securities in the form of investment contracts which XNC sells to the public and the XNC is selling them without requisite license from SEC.


The Cease and Desist Order from SEC  also prohibits XIAN COINS, its owner and founder CHRISTIAN ALBERT SORIANO GAZA, its partners, operators, directors, officers, salesmen agents, representatives, promoters, and all persons, conduit entities and subsidiaries claiming and acting for and on its behalf from transacting any business involving the funds covered by this cease and desist order in its depository banks, and from transferring, disposing, or conveying in any manner, all assets, properties, real or personal, including but not limited to bank deposits, of which they may have any interest, claim or participation whatsoever, directly or indirectly, under its custody, to ensure the preservation of the assets for the benefit of the investors.


The warning to the public particularly in Davao has been reiterated by the SEC-Davao as it has received complaints against Xian Coin representatives and agents in its area of responsibility. 


The public is urged to report information of investment solicitation activity by individuals ort group of individuals on behalf of Xian Coins.  They can send their report to the EIPD at epd@sec.gov.ph. (PIA/RG Alama with reports from SEC-Davao)

 

Labels:

Comments

Post a Comment

Popular posts from this blog

DOH XI hires more nurses, doctors

DAVAO CITY, September 6 (PIA) – The Department of Health XI bared its emergency hiring for nurses and doctors following the need to augment the personnel requirement of COVID19 hospitals from all over the region. The head of the DOH XI Epidemiology and Surveillance Unit Dr. Rachel Pasion, in today’s DOH Virtual Presser reported that in Davao City alone combining both the COVID19 hospitals and the private hospitals have utilized 674 COVID19 beds out of the 830 beds or 79.4 utilization rate. This brings the region’s critical care utilization at a high risk level. The Southern Philippine Medical Center, in the past few days, released an advisory informing the public that it has been experiencing an unusually high volume of patients needing admission for COVID19. As of September 5, the facility has utilized 85 ICU beds out of the 92 total number of beds; utilized 490 ward beds out of 496 total number of beds.   In the Province of Davao Oriental which is experiencing a surge in COVID19 ...
Post a Comment
Read more

DavSur expo features world-class local products, tourist destinations

DAVAO CITY, Sept. 23 (PIA) – The world-class and award winning local products and travel destinations in Davao del Sur are being featured and promoted in the first DavSur Travel and Trade Expo 2021.     Despite the pandemic, the virtual edition of the provincial expo has been made possible through the initiatives of the Department of Trade and Industry of Davao del Sur and the Provincial Tourism Development and Promotion Office.   DTI-Davao del Sur Provincial Director Maria Victoria Placer explained that the expo highlights the province's globally competitive products as well as the tourism destinations, circuits and activities.                                               Since its launch on Tuesday (Sept. 21), the virtual expo has been staging several a...
Post a Comment
Read more

Completed projects turned over to far-flung villages in DavSur

DAVAO CITY, Dec. 24 (PIA) – The provincial government of Davao del Sur has intensified its turnover of completed projects to provide convenience to the intended beneficiaries in the far-flung areas in the province.   Among the recently turned over was the covered space with stage worth P1,186,886.58 for the Sibulan National High School in the remote barangay of Sibulan in the municipality of Sta. Cruz.   An electrification project with 150-watt solar lights was also provided for the benefit of the barangay residents.   Governor Marc Cagas turned over the projects to the school teaching personnel represented by Isabelito F. Poncardas and to the barangay council headed by Punong Barangay Danilo Abe.   Abe conveyed his gratitude to the governor for the electrification project which would now provide light to the dark portion of the barangay roads.   In Bansalan town, Cagas has also turned over a newly improved and rehabilitated gymnasium worth P3 million for the re...
Post a Comment
Read more