Published on July 11th, 2018 | by bitcoin0
The Philippines wanted to get a license for Cripto to cross $ 67 million
A government authority that governs the Philippines Cagayan Special Economic Zone and Freeport is aiming to earn $67 million just by issuing cryptocurrency exchange licenses.
According to a report from the Philippines government news agency on Tuesday, the Cagayan Economic Zone Authority (CEZA) announced it has just granted a principle operation license to a Hong Kong-based crypto exchange.
The CEZA said the new issuance is part of the total 25 principle licenses it will give to crypto trading platforms.
Through the tiered crypto exchange licensing model, Roquero said in the report that the authority expects to make a profit of 3.6 billion peso, or around $67 million.
The country’s central bank granted the first crypto exchange licenses to two local platforms in August of last year.