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Briefing
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- Crypto Regulations – Philippine regulator Cagayan Economic Zone Authority (CEZA) announced new Digital Asset Token Offering (DATO) regulations that will govern acquisition of cryptoassets, including security and utility tokens, in country
- Transparency and Documentation – Requires creators of cryptoassets and Initial Coin Offerings (ICOs) to provide clear offer documents, which include details on issuer, project, as well as advice and recommendations from industry experts
- Dedicated Exchange – Set up Offshore Virtual Currency Exchange (OVCE) where issuers can list tokens on platform
- Partnerships – Will partner with regulator Asia Blockchain and Cryptocurrency Association (ABACA) to monitor and enforce compliance to regulations, as well as fintech firms to remain updated on innovation in crypto space
- Regulation Goals – Include protection of investors and promotion of innovation in cryptoasset industry
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Accelerator
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Market Disruption
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Sector
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Financial Services
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Organization
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Asia Blockchain and Cryptocurrency Association (ABACA), Cagayan Economic Zone Authority (CEZA)
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Source
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Original Publication Date
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February 6, 2019
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