Nineteen firms have been granted provisional licenses to operate crypto exchanges by the Philippine government-owned Cagayan Economic Zone Authority. In addition, eight firms have paid the application fees and are being reviewed. A list of all 27 companies has been published.
Provisional Licenses Issued
The Philippine government-owned Cagayan Economic Zone Authority (Ceza) on Friday published a list of all companies that have been issued Financial Technology Solutions and Offshore Virtual Currency (Ftsovc) and Offshore Virtual Currency (Ovc) licenses as well as those that have paid the application fees and are being reviewed.
As of Oct. 12, a total of 19 companies have received provisional licenses — 17 were issued provisional principal licenses while two were issued provisional regular licenses. Ceza detailed:
Provisional principal licenses [allow licensees] to conduct offshore financial technology solutions business activities and offshore virtual currency exchange activities … Provisional regular licenses [allow them] to conduct offshore virtual currency exchange activities.