Manny Pacquiao a Philippines boxer to release his own cryptocurrency

The imminent Boxer of Philippines Manny Pacquiao to release his own cryptocurrency. Manny is all set to follow the footsteps of his comrade Floyd Mayweather to launch his cryptocurrency. Floyd Mayweather is a boxer who earns Rs 11 crore per second in a boxing match. Manny is expounding to regulate the virtual currency market.

GCOX’s opinion

The Singapore based cryptocurrency firm, GCOX (Global Crypto Offering Exchange) states that it will reveal PAC token in this year. The token will allow fans to purchase merchandise which is launched by the boxer who fought the richest fight in 2015. However, the coin is used to communicate him through a live-streaming.

Pacquiao cites that “It can be a way to be in touch with the fan base and a lot of things we can do with this cryptocurrency”. Bestowing to the list released by Forbes last year, the Filipino Senator is 20th highest paid athlete of the time.

Manny’s project into the crypto industry begins at the time when government across Asia is clamping down on the market. Moreover, many governments’ authorities including India’s RBI has made difficult for people to trade in cryptocurrencies.

Official’s statement

The authorities are concerning illegal utilization of digital currencies and persuade higher risk involved with the investment. The Lawmakers of Philippines have proposed legislation that imposes severe forfeitures for the crimes executed using digital currencies.

Pacquiao is also of the opinion that cryptocurrencies must be regulated. It further states that digital currency is been regulated in several other countries.

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Image SourceManny Pacquiao

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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