Philippines Encircle Crytocurrency: Exchanges Delivered Provisional Licenses

2018-7-11 15:11

Economy & Regulation

The Philippines Cagayan Economic Zone Authority (CEZA) announced it granted three cryptocurrency exchanges provisional license to operate.
Philippines Grants Three Licenses to Crypto Exchanges
“These are offshore companies, and they have committed investments of $1 million each,” stated Raymundo T. Roquero, deputy administrator of the Cagayan Economic Zone Authority (CEZA) in the Philippines.
He was speaking specifically of the conditions under which three licenses have been issued to crypto exchanges, such as the first to Hong Kong’s Golden Millennial Quickplay Inc. Ltd. (GMQ), and how the newly licensed company “intends to build infrastructure in Sta.
Hoops, Probity
All three exchanges are from outside the country.
The $1,000,000 is to deter such exchanges and the zone from becoming initial coin offering meccas.

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Philippines’ Financial Zone Making Crypto Controls, Authorizing 25 Exchanges

Regulation The authority of the Filipino government-owned economic zone is drafting regulations for cryptocurrencies and planning to limit the number of licenses it issues to 25. Japan Confirms Entrance Into the Crypto Space Drafting Crypto Regulations Philippines’ Cagayan Economic Zone Authority (CEZA) is “crafting rules to safeguard cryptocurrency investors,” according to the Philippine News Agency,

2018-7-1 22:11