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Cagayan: Crypto Valley of Asia

Terrorist groups related to Islamic State (IS) in the Philippines have recently made their first transactions using cryptocur
Terrorist groups related to Islamic State (IS) in the Philippines have recently made their first transactions using cryptocurrencies.

Cagayan located in South Asia is promoting itself as a haven for foreign investment. Cagayan officials have promised an environment of transparency and no corruption for the businesses. Raul Lambino administrator of Cagayan Economic  Zone Authority said that they offer a free-port and a vast spectrum business undertakings. He also added that CEZA provides financial technology services for cryptocurrency and bitcoin companies.

Lambino believes that business firms all over the world would find Cagayan a friendly and trustworthy place for their investments. Since Lambino was appointed as chief of CEZA, the investors from all over Asia and mainland China have increased manifold.

Since Raul Lambino was appointed as head of CEZA the foreign investment has increased many times.

Last month the Philippines announced that they had approved a total of 48 crypto exchanges. All the exchanges were accepted by Lambino led government body CEZA. Philippines’  President, Rodrigo Duterte in 2017, appointed Lambino as the head of CEZA. Since than Cagayan has been working towards bringing investors from all over the world by offering a friendly business environment for a different type of organisation including blockchain and cryptocurrencies.

All big economic countries like USA, England and Germany are tightening the regulations over cryptocurrencies. On the other hand countries like Malta, Philippines and Bermuda are using this opportunity to welcome advanced technology-based companies.

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