CEZA Expects to Earn Php 3.6 Billion from Offshore Crypto License Issuing
CEZA said 6 of the 70 applicants have paid for offshore crypto licenses. The principal license under CEZA costs $360,000 and a regular license is $85,000.
CEZA said 6 of the 70 applicants have paid for offshore crypto licenses. The principal license under CEZA costs $360,000 and a regular license is $85,000.
During the event, the BItpinas team asked CEZA on the difference between its “offshore crypto license” and the BSP’s virtual currency exchange license.
Initial Coin Offerings of CEZA-based crypto exchanges will be blocked by CEZA by preventing PH residents from accessing their websites.
A number of investors from Asia are now showing interest in acquiring the limited slots.
The Cagayan Economic Zone will soon be home for up to 21 blockchain and crypto firms that signed an agreement with CEZA.
The license allows the company to operate in the Philippines while servicing users outside the country.
The Cagayan Economic Zone Authority (CEZA) revealed that it will house a $100-million facility in two years’ time.
The Cagayan Economic Zone Authority received Php 1.7 billion worth of signed contracts from crypto companies wanting to invest in the special economic zone
10 blockchain & virtual currency companies will have the opportunity to operate in the Philippines’ Cagayan Economic Zone.