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   945

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

Binance to Change Launchpad IEO Rules

25 March 2019   5

Binance announced a change in the format of the next tokensale on the Launchpad platform to a lottery. At the same time, the number of lottery tickets per account will depend on the size of the steak in the BNB for 20 days before IEO.

Note that one account can get up to 5 lottery tickets. Winners will be selected by randomizer.

BNB Balance to Lottery Tickets Ratio
BNB Balance to Lottery Tickets Ratio

It is noteworthy that within 20 days before the lottery, the BNB-deposit snapshot will be carried out daily at 0:00 UTC to monitor the fulfillment of the conditions.

Each winning ticket will grant the right to purchase tokens for a fixed amount in BNB equivalent. As soon as the user informs the exchange that he is ready to use a certain number of tickets in case of their winnings, this obliges him to purchase tokens and the money will be debited automatically.

Binance acknowledged that the price of BNB may fluctuate due to daily snapshots, and its potential decline may not be covered by the benefit from the new token, and encouraged users to make informed decisions.

In addition, Changpeng Zhao urged the community to comment on the new format in a separate Twitter thread in order to make the necessary feedback-based changes, if needed.

During the Celer Network tokensale on the Launchpad platform again had bandwidth problems; many people did not manage to purchase tokens.