The tax-free economic zone of CEZA is provided by the Government of the Republic of the Philippines. The country’s leadership legalizes the activities of dozens of blockchain and cryptocurrency companies in a special state-controlled economic zone located at an hour’s distance from Hong Kong, China and Taiwan. Companies will be allowed to create crypto exchanges, launch initial coin offerings ICO and engage in cryptocurrency mining, with the caveat: any exchange of cryptocurrency to fiat money must occur outside the Philippine borders, in order to avoid violating the laws of the country. To create jobs, the opening of a technological university specializing in blockchain technologies is envisaged.
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