The Cagayan Economic Zone Authority (CEZA), Asia Blockchain and Crypto Association (ABACA) and First
Bullion Holdings Inc. (First Bullion) jointly announced today the certification of the Flourish City
Development Limited (FCD) Digital Asset Token Offering (DATO), the first asset-backed token offering
approved by CEZA and ABACA.
The Philippines has introduced a new set of rules governing Digital Asset Token Offering (DATO),
according to a press release published by the Asia Blockchain and Crypto Association (ABACA) on Feb. 4.
The new regulations released by the country’s Cagayan Economic Zone Authority (CEZA) are reportedly
designed to regulate the cryptocurrency industry and protect investors, affecting such issues as the
acquisition of crypto assets, including utility and security tokens. The CEZA thus becomes the main
regulator, while the ABACA has been designated as a self-regulatory organization (SRO) to enforce the
The administrator of a government-controlled economic zone in the Philippines has revealed plans to
issue 25 licenses to cryptocurrency exchanges.
The Cagayan Economic Zone Authority (CEZA), a government-operated economic zone in the northern tip of
the Philippines, will open its doors to as many as 25 cryptocurrency exchange operators in its
tax-friendly jurisdiction, an announcement on its website revealed.