This Thursday, Thai regulators announced that so far they have granted the approval for the operation of 7 cryptocurrency agencies to conduct cryptocurrency operations as a part of formalization of the country’s domestic market.
Look What the Thai Authorities said?
Recently, in a statement, Securities and Exchange Commission (SEC) of Thailand mentioned that they have finally come to a decision allowing the 7 cryptocurrency operators to conduct cryptocurrency operations.
Which companies are they talking about?
In the official statement to press, Thailand’s SEC also mentioned the names of these cryptocurrencies operators. These 7 cryptocurrency platforms include – Bitcoin Co. Ltd. (BX), Bitkub Online Co. Ltd., Cash2coins Co. Ltd., Group Co. Ltd. (TDAX), and Coin Asset Co. Ltd.
Not only this, they also added that the regulators have also approved two cryptocurrency dealers – Digital Coin Co.Ltd (ThaiWM) and Coins TH Co.Ltd.
Earlier to this announcement, Thailand declared its intention of dragging cryptocurrency industry under regulatory rules. This step is a move towards that goal. That is not all, they managed to set up regulations onto cryptocurrency on 14th May.
What else is running in Thailand SEC’s head?
- According to what we have gathered from the recent reports, Thailand’s SEC is also reviewing the data of the two other digital asset operators. As per the word around the media, both the operators have filed an application under the Transitional Provisions.
- Last week the announcement was made regarding the heavy interest to be implied on the prospective initial coin offering (ICO) issuers in applying for the regulated statue in the country.
- According to the present numbers, around 50 projects had come to light who have applied for the regulators to allow them to carry on their operations. But it seems like Thailand’s SEC is very strict as till July only 5 applicants met the prerequisites.
It seems to be both good and bad news for Thailand Cryptocurrency market. Where the SEC seems to be generous about their operations there, all the terms and conditions seem to be too much. Thai’s SEC is really cutting edge in regulating Cryptocurrency industry.