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Philippines Sign Permissions to 19 Companies for Running Crypto Exchanges

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Tue, 16/10/2018 - 8:56
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Philippines Sign Permissions to 19 Companies for Running Crypto Exchanges
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At the end of last week, the Cagayan Economic Zone Authority (CEZA), owned by the government of the Philippines, publicized the list of all startups that have been granted licenses for setting up virtual exchanges in the country.

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17 of the companies received provisional principal licenses, two were granted provisional regular licenses. The former cost $360,000, the latter is worth $85,000.

Besides, license applicants are obliged to have authorized capital stock of half a million USD, whereas $200,000 must be a paid-in capital.

As U.Today reported earlier, that the Philippines are becoming a popular area for setting up crypto exchanges.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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