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CEZA cracks down on illegal cryptocurrency firms | Cagayan Economic Zone Authority

CEZA cracks down on illegal cryptocurrency firms

CEZA cracks down on illegal cryptocurrency firms

By: BYLEANDER C. DOMINGO, TMT | NOVEMBER 21, 2018

SANTA ANA, Cagayan: The Cagayan Economic Zone Authority (CEZA) tapped the National Bureau of Investigation (NBI) and the Criminal Investigation and Detection Group of the Philippine National Police (PNP-CIDG) to go after operators of online cockfighting, also known as “electronic sabong,” and unlicensed crypto businesses.

Secretary Raul Lambino, CEZA administrator and chief executive officer, said they have not issued a license to any entity operating e-sabong inside or within the vicinity of the special economic zone.

“Anyone engaged in such activity is violating the anti-illegal gambling law and is subject to arrest and prosecution,” he said.

Lambino added that since taking over CEZA in 2017, he has completely disallowed all forms of “illegal gambling emanating from inside the economic zone.”

Lambino sought the assistance of the NBI and the PNP to arrest those claiming to have CEZA licenses to operate online cockfighting activities.

Meanwhile, CEZA also issued an order to closely monitor activities in its “Crypto in the Valley” program.

He said there have been reports of some unlicensed cryptocurrency firms that have burrowed into CEZA’s emerging Fintech-Crypto hub where they set up illegal operations.

https://www.manilatimes.net/ceza-cracks-down-on-illegal-cryptocurrency-firms/470899/