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Cryptocurrencies

Asian countries vie to set up region's 'crypto valleys'

Philippines, South Korea and Thailand ease regulations to lure fintech investment

MANILA -- The race to establish cryptocurrency hubs in Asia is gathering pace, with several countries easing regulations and unveiling projects to lure financial technology companies. Japan is ahead of the game for now, but opportunities to catch up are also growing fast.

The Cagayan Special Economic Zone and Freeport in the northern Philippines is building the "Crypto Valley of Asia," a $100 million blockchain hub that aims to mimic Zug in Switzerland, the birthplace of Ethereum and now home to almost 200 blockchain companies.

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