Philippines special economic zone to welcome 25 crypto exchanges

Asia The Philippines

In an announced on its website, The Cagayan Economic Zone Authority (CEZA), a government-operated economic zone in the northern Philippines, informed that it will welcome 25 crypto exchanges to operate in its tax-friendly environment. 

Before the exchanges are licensed, a strict integrity check will be performed under current cryptocurrency sector regulation. A minimum threshold of 1 million USD of investment within the first two years of operations within the zone has been set for the applying exchanges; a physical office in the zone will also be required.

The zone has already received a number of applications from cryptocurrency companies interested in operating within it.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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