Latest reports suggest that the government of Philippines has finally decided to allow cryptocurrency transactions to thrive in one of its economic zones. According to reports, the spokesperson of Cagayan Economic Zone Authority (CEZA), Raul Lambinos revealed that the government of the country is about to license 10 platforms including Hong Kong, Japanese, Malaysians, and Koreans who would be free to engage in cryptocurrency transactions, initial coin offerings, and cryptocurrency mining.
This decision follows a controversy by the countries lawmakers on the implication of allowing cryptocurrency transactions in the country. It is reported that the government of the country now believes with all certainty that the new scheme will go a long way in creating more employment for its citizens, ore tax revenue for the nation as well as a cryptocurrency university.
Nice article, well that is a good news for crypto. 😏