The Association of Thai Securities Companies (ASCO) is considering establishing a joint cryptocurrency exchange, with plans for several firms to apply together for a crypto exchange license, local news outlet Bangkok Post reports July 2.
Pattera Dilokrungthirapop, ASCO chairperson, told the Bangkok Post that several Thai securities firms will apply for a joint crypto operating license with the Thai Securities and Exchange Commission (Thai SEC) in order to reduce costs and share technologies.
With just a securities business license, firms can become digital assets brokers and dealers, as well as operate digital token e-wallets.
Dilokrungthirapop told the Bangkok Post that crypto investors “will prefer trading with us,” as securities trading is similar to digital asset trading, and “we have been in the securities trading business for a long time.
Dilokrungthirapop added that ASCO securities firms are also interested in Initial Coin Offerings (ICO) portals, and that the organization would work with the Thai SEC with the aim of allowing securities firms to expand operations into the digital asset field.
It would be difficult to explain to a novice that despite the 48-hour $20 billion crash in the market, the crypto industry continued to pique the interest of various nations. After China revealed itThe post Thai SEC: Crypto regulations under assessment to enhance businesses appeared first on AMBCrypto.
Thailand’s vibrant digital asset scene was shaken earlier this month when its most popular exchange unexpectedly announced an imminent closure. The news left crypto traders dazed and confused and fearing a wider crackdown from the military dominated government.
Thailand’s Association of Securities Companies (ASCO) are considering creating a joint cryptocurrency exchange. The group of securities companies are hoping to receive a license from the Thai Securities and Exchange Commission (SEC).
A group of traditional securities firms in Thailand is planning to jointly launch a new cryptocurrency exchange, a report indicates. According to the Bangkok Post on Monday, the Association of Securities Companies (ACE) – a body that represents the country’s securities firms – said it is in talks with regulators about allowing established financial firms to
Thailand has moved beyond the catch-22 situation with its cryptocurrency classification. While governments across the world are undecided about virtual currencies classification, one key nation in the cryptocurrency network has taken a generation leap.
The Securities and Exchange Commission of Thailand (SEC) have recently published a new framework which highlights the countries changing stance on cryptocurrencies. Within this, the SEC have published information about fees and taxes, licensing and interestingly, a list of their seven approved cryptocurrencies.
Regulation The Thai financial regulator is expected to approve five ICO projects once the new regulatory framework takes effect this month. Out of 50 ICO projects in the country, only five satisfy the registration requirements set out by the regulator this week.
The Thai financial regulator is expected to approve five ICO projects once the new regulatory framework takes effect this month. Out of 50 ICO projects in the country, only five satisfy the registration requirements set out by the regulator this week.
Newly proposed regulations from the Thailand Securities and Exchange Commission are expected to enter into effect this month, which include 7 permitted trading pairs, new controls over ICOs, an updated annual fee structure and licensing details.
Thailand was the first in Southeast Asia to implement digital-assets regulations in 2018. The move attracted investors to cryptocurrencies. After that, however, the crypto industry started facing setbacks as regulators tightened rules during trading irregularities and the collapse of a top exchange.
Regulation The Thai financial regulator is expected to approve five ICO projects once the new regulatory framework takes effect this month. Out of 50 ICO projects in the country, only five satisfy the registration requirements set out by the regulator this week.
