Back

Philippines Sign Permissions to 19 Companies for Running Crypto Exchanges

  • Cagayan Economic Zone Authority (CEZA) publicized the list of all startups that have been granted licenses for setting up virtual exchanges in the country

Cover image via U.Today

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.

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.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

Recommended articles
Russia and China Want to Stop Their People from Buying Bitcoin: Investor Marius Landman

Russia and China Want to Stop Their People from Buying Bitcoin: Investor Marius Landman

XRP Liquidity Index on Largest ODL Venue Hits New ATH

XRP Liquidity Index on Largest ODL Venue Hits New ATH

CoinMarketCap Upgrades Ranking System for Cryptocurrency Trading Pairs. Here's What's New

CoinMarketCap Upgrades Ranking System for Cryptocurrency Trading Pairs. Here's What's New