The power of the Filipino government-owned economic zone is drafting regulations for cryptocurrencies and planning to restrict the number of licenses that it issues to 25. Other principles include the requirement for each crypto exchange to spend at least US$1 million within 2 decades. The jurisdiction has reportedly received about 60 software from crypto businesses up to now.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Published at Sun, 01 Jul 2018 17:20:58 +0000

Preventing Allergic

“Though CEZA will only issue 25 licenses, each trade will have 20 to 30 sub-licenses for traders and brokers,” Lambino explained. Based on reports, CEZA has already received over 60 applications.

25 Requires Only

What would you think of CEZA drafting crypto regulations and licensing 25 exchanges? Let us know in the comments section below.
Photographs courtesy of Shutterstock and the Philippines authorities.
Regulation