Philippines Sign Permissions to 19 Companies for Running Crypto Exchanges

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Yuri Molchan
Cagayan Economic Zone Authority (CEZA) publicized the list of all startups that have been granted licenses for setting up virtual exchanges in the country
Philippines Sign Permissions to 19 Companies for Running Crypto Exchanges
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.

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About the author

Yuri is a crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.