Philippine authorities want to receive millions for the licences to trade cryptocurrency

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2018-07-11 19:15:05

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Philippine authorities want to receive millions for the licences to trade cryptocurrency

The Philippine authorities that govern the special economic zone of Cagayan, decided to earn 67 million dollars. Their plan is to sell licenses for cryptocurrency exchanges. According to government news agencies, one exchange of Hong Kong has purchased the license.

Special economic zone of Cagayan will give 25 fundamental licenses for trading platforms. Each recipient of the document will be allowed to release four of the standard license.

the

Earnings on cryptocurrency

Basic license will cost 360 thousand dollars. Each regular license is worth 85 thousand dollars. About other differences between the two types of licenses does not say. Thus the authorities expect to a profit of 3.6 billion pesos, or $ 67 million.

The license Holders will be required to pay 0.1 percent per transaction inside its platform. In addition, companies need to invest locally at least a million dollars within two years and to open an office in the Philippines. Last year the country has about his friendly attitude towards cryptocurrencies.

reports that the license has already received 70 applications. The six applicants have paid the license fee.

Philippine authorities want to get millions for licenses to trade in cryptocurrency appeared first on Two Bitcoin.

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