Kaganskoe residency in the special economic zone of the Philippines will receive 25 “trustworthy” cryptocurrency exchanges, according to CCN.

The Agency plans to grant licenses to venues whose activities are not contrary to the current cryptocurrency laws of the country.

“We don’t want the Philippines became a haven for crooks, so will check exchanges on honesty and integrity. This will allow us to determine whether the transaction is only a means to get people to invest in any fraudulent cryptotoken”, — said the Director CEZA Raul, Lambino.

According to him, the crypto currency exchange having an office in the special economic zone within two years will have to invest in it at least $1 million.

Despite the limited number of licenses, each of 25 kryptomere will have the right to issue up to 30 trading and brokerage of sublicenses.

We will remind, in April the authorities of the province of Cagayan has stated that they intend to be ten bitcoin and blockchain-companies in designated economic zone, where they will receive tax incentives and will create new jobs.