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.
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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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