The Philippines has a “Crypto Valley of Asia,” an initiative of the Cagayan Economic Zone Authority, the government agency responsible for managing the Cagayan Special Economic Zone and Freeport. An airport is now being planned for inside this economic zone to address the needs of its investors and crypto service providers. Many cryptocurrency exchanges have been licensed to operate within the zone.
Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws
Airport Planned for Crypto Valley of Asia
The Philippines’ Cagayan Economic Zone Authority (CEZA) has confirmed its plans to build an airport inside its “Crypto Valley of Asia.” According to Administrator and CEO Raul Lambino, the airport will cost between $60 million and $80 million. He was quoted by the Manila Times on Thursday as saying:
The construction of a new airport is an important facility in the establishment and realization of the so-called Crypto Valley of Asia concept that we have embarked.
The CEO explained that CEZA is now in talks with…