Thai Regulators Greenlight Crypto Funds as Capital for Securities Firms

2020-11-19 16:44

In its latest pro-cryptocurrency stance, financial regulators in Thailand say crypto firms can now include their virtual currency holdings as part of their business capital.

Southeast Asia remains the fastest growing digital market in the world. The onset of the coronavirus pandemic is even serving to accelerate the pace of digitalization in countries like Thailand and Singapore.

Crypto Funds Now Regarded as Business Capital in Thailand

According to the Bangkok Post, digital securities firms in Thailand can now include the value of their crypto holdings as part of their net capital (NC) valuation. The move is part of the revisions to the NC rules enacted by the Thai Securities and Exchange Commission (SEC).

The amended NC law arrives following a surge in trading volume for both stocks and futures markets in the country. However, the addition of crypto funds to a company’s NC will be capped at 50%.

For the SEC, the move is part of efforts to expand the liquidity management scope of crypto brokerage firms for robust risk management purposes. Consequently, the Commission also included provisions in the NC amendment to cover the security of crypto NC funds.

As part of these measures, digital asset firms that offer custodial services must maintain over 1% of the NC funds stored on cold wallets and a further 5% of client assets stored on online wallets. For crypto firms that do not offer custody, shareholder equity must exceed 500,000 baht ($16,500).

With the revised NC laws in place, digital securities firms may now have an easier path to launching crypto exchange platforms. According to the Bangkok Post, several companies are already in talks with the SEC to float their own cryptocurrency trading desks.

The move to include crypto as capital for businesses is part of a continuing trend of favorable cryptocurrency regulations in Thailand. Indeed, the Southeast Asian nation is witnessing a notable increase in virtual currency and blockchain technology adoption.

Back in Oct., the Thai central bank launched an IBM-backed blockchain-based savings bond service. While promoting crypto adoption, authorities also intend to move forward with regulations for industry participants.

The post Thai Regulators Greenlight Crypto Funds as Capital for Securities Firms appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

regulators firms capital crypto business holdings currency

Источник: beincrypto.com

regulators firms → Результатов: 74


Фото:

Cryptocurrency Firms to Benefit from Streamlined Regulatory Process Coming in 48 States

Top financial regulators from 48 States in the US have come together to establish and streamline the process to register and approve crypto and fintech firms. Fintech companies such as PayPal, Western Union, and Cryptocurrency firms like Paxful, Coinbase, and Square will be able to expand faster and more easily in the US. The new […]

2020-9-17 19:13


Relief for US Crypto Firms, 48 States Agree to Regulatory Framework

The days of U. S. crypto firms navigating a patchwork of laws across state lines may soon be at an end with regulators agreeing to a unitary legal architecture. News of the streamlined regulatory framework comes as Federal lawmakers are examining bills aimed at advancing America’s interest in the emerging cryptocurrency and blockchain landscape.

2020-9-15 18:45


Фото:

Hawaii Set to Introduce Regulatory Sandbox for Cryptocurrency Companies

Financial regulators in Hawaii have introduced a regulatory sandbox for cryptocurrency businesses in the State as a way of developing clear-cut laws for the emerging digital economy. Two-Year Sandbox for Cryptocurrency Firms in Hawaii Hawaii’s governor’s office released a press statement on Tuesday (March 17, 2020) announcing the creation of the regulatory sandbox for cryptocurrencyRead MoreRead More.

2020-3-20 22:00


Фото:

French Regulators Set to Approve Bitcoin-Linked Firms

France’s financial watchdog, the Financial Markets Authority (AMF) has announced plans to implement a new set of rules that will govern bitcoin and crypto-based businesses in the region. The regulation is expected to go live later this month, and it takes care of essential pain points like consumer protection, tax remittance and capital requirements, reportsRead MoreRead More.

2019-7-18 09:00


CFTC Commissioner: Crypto Exchanges And Businesses Must Create A Self-Regulatory Organization

Cryptocurrency Exchanges And Related Businesses Must Create A Self-Regulatory Organization – Says CFTC Commissioner While the United States regulators are still trying to come up with amenable guidelines to govern the crypto industry, the United States Commodity and Futures Trading Commission (CFTC) commissioner, Brian Quintenz has reportedly urged firms and stakeholders in the cryptospace to […]

2019-2-18 22:14


Employees of crypto companies start whistleblowing on their firms – 50 companies under investigation in UK

As the pandemic demise of crypto continues, regulators are putting more pressure on the swarm of cryptocurrency companies, most of which hatched back in summer of 2017. As Telegraph.co.uk reports, not only do the UK financial regulatory body FCA is looking more into the branche, there is an increased number of whistleblowers from these crypto […] The post Employees of crypto companies start whistleblowing on their firms – 50 companies under investigation in UK appeared first on CaptainAltcoin.

2018-11-26 18:30


Фото:

Regulators are hunting dodgy cryptocurrency firms on UK’s Wall Street

It’s not just US regulators intent on cleaning up the blockchain industry. In the UK, financial regulators are closing in on more dodgy cryptocurrency businesses than ever before. In fact, since May, the UK’s Financial Conduct Authority (FCA) has lodged 26 inquiries with firms it suspected to be operating within financial services sector without permission, reports the Telegraph.

2018-11-26 14:09


Фото:

Maritus Regulators to Equip Crypto Businesses with Custodial Licenses

Due to the inadequacies of the previously laid down guidelines for its blockchain and cryptocurrency industry, the Financial Services Commission (FSC), Mauritius’ financial watchdog, has drafted new regulations to cover its DLT ecosystem and crypto-based businesses are now required to obtain a custodial license for cryptoassets, reported Finance Magnates on November 6, 2018.

2018-11-8 06:00


Фото:

Canadian Regulators Warn Investors about Scam Crypto Firms

In a bid to sanitize the local finance ecosystem, the British Columbia Securities Commission (BCSC), one of the thirteen provincial financial watchdogs in crypto-friendly Canada, has warned investors to be wary of Eyeline Trading, an unregistered firm that claims to offer cryptocurrency trading and other bitcoin-linked investment products to clients, reported Finance Magnates on October 30, 2018.

2018-11-1 17:00


дальше еще 25 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Binance Targets Thailand’s Crypto Oasis As Launchpad To 1 Billion Users

Binance is shifting its focus to increase cryptocurrency adoption in Thailand which could transform the future of digital assets in the Asian region. Related Reading: Pakistan Legalizes Crypto: A Major Shift From Ban To Boom Binance announced it wants to make virtual coins a mainstream currency in the Thai market, which could propel the crypto […]