SEC in Thailand green lights 7 crypto exchanges

Posted 16 August, 2018

On August 16, the Securities and Exchange Commission in Thailand has unveiled the companies that filed an application for a crypto business license in the country.

The official report reads that the Thai regulator approved seven companies for operations. The list included such crypto exchanges as Bitcoin Co. Ltd. (BX), Bitkub Online Co. Ltd., Cash2coins Co. Ltd., Group Co. Ltd. (TDAX), and Coin Asset Co. Ltd. 

Along with this companies, Thai SEC also approved some dealers of digital coins –  Coins TH Co. Ltd. and Digital Coin Co. Ltd. (ThaiWM).

For reference, these measures are taken in line with the May rule – Digital Asset Business Bill. Under the bill, all companies dealing with cryptocurrencies have to submit a license application to the country's SEC within 90 days, which means that the deadline for the submission was August 14 2018.

“In addition, the SEC is currently reviewing the data of two other digital asset operators that have filed an application under the Transitional Provisions,” the statement reads.

Earlier, the regulator mentioned increasing interest in ICO certification. According to the available data, around 50 projects had filed applications, though after SEC voiced the requirements to get the green light, only five projects managed to meet them.

"Investing in digital assets have a high risk. People who are interested to invest must have a good knowledge in order not to lose money...If the company is not yet listed and the company wants to conduct a cryptocurrency business, the company should file a license request to the SEC. If the company passes, the Minister of Finance will grant the license," commented SEC secretary.

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17 August, 2018 11:07

← Genesis Mining to get rid of loss-making contracts

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Genesis Mining to get rid of loss-making contracts

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