Philippines Plans to Earn $67M With Crypto Licenses

The first deputy head of CEZA said that the authorities charge $ 360,000 for the principal and $ 85,000 for a regular license,
11 July 2018   526

The authorities of the Cagayan Economic Zone of the Philippines intend to earn $ 67 million in licensing exchanges of cryptocurrency exchange. This is reported by CoinDesk.

The Cagayan Economic Zone Administration (CEZA) announced that it issued the principle operating license to the Hong Kong cryptoexchange.

CEZA reported that the license was issued under the program for the issuance of 25 principle licenses for crypto exchanges. Each company that has received such a license will be able to independently release at least 4 ordinary licenses.

The first deputy head of CEZA, Raymundo Roquero, said that the authorities charge $ 360,000 for the principal and $ 85,000 for a regular license, but did not explain what the difference between the two licenses is.

He also noted that CEZA intends to earn 3,6 billion pesos or about $ 67 million for issuance of licenses for cryptocurrency companies. Besides the license fee paid once, the admitted exchanges are obliged to pay CEZA at 0.1% per transaction through their platforms .

Roqueiro said that CEZA received 70 applications from cryptocurrency exchanges. In the near future, the authorities will continue issuing licenses, as 6 applicants have already paid a license fee. In addition to the above requirements, the exchanges registered in a special

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   93

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.