Thai companies joint forces targeting new crypto exchange

Posted 03 July, 2018

Thailand-based financial companies, members of the Association of Securities Companies (Asco), are considering opportunities for joint setting up of a new cryptocurrency exchange.

According to the ASCO, the association is in talks now with the financial regulators to become able to offer crypto exchange services. It is going to fill the application for the corresponding license with the Securities and Exchange Commission.

"Interest in digital assets has been growing across the globe. Bitcoin's skyrocketing value last year heavily contributed to increasing investment appetite in digital assets," commented head of the Association.

At the same time, such licenses have a number of requirements. Specifically, the companies should keep clients' assets separately from their own, which means that at least some of them will choose to cooperate for cost reduction and innovations exchange. These companies, in their turn, will become cryptocurrency dealers and brokers and be able to run e-wallets for tokens.

"We are confident that investors will prefer trading with us since we have been in the securities trading business for a long time," commented the ASCO representative.

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03 July, 2018 15:19

← Bermuda authorities to update Banking Act considering blockchain companies

The Bermuda authorities plan to revise the Banking Act striving to set up a new class of financial institutions that will deal in the fintech and blockchain field. The local banks are concerned about the regulation issue and risks, and thus they refuse to provide services for the new companies. In this situation, the government held talks with the representatives of the banks discussing the development of the revised Banking Act.

Bermuda authorities to update Banking Act considering blockchain companies

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03 July, 2018 13:00

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