Thailand: 20 companies applied for licensing of cryptocurrency exchanges

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Thailand: 20 companies applied for licensing of cryptocurrency exchanges

Following the new licensing system for the cryptocurrency sector released in July, the Commission on securities and exchange Commission of Thailand (SEC) has provided nearly two dozen candidates who wish to obtain licensing for cryptocurrency exchanges.

The Secretary-General of the Commission on securities and barges of Thailand, RAPI Sucharitakul said that 20 companies have applied for licenses to kryptomere within one month after the entry into force of the new regulatory framework licensing for ICO and cryptostore.

As reported by the Bangkok Post newspaper on Thursday, a senior representative of the SEC confirmed that the approval of licenses currently “handled”, adding:

“Many companies interested in the opening of the digital exchanges, said that the digital assets and cryptocurrency trading in the Thai market are very active.”

As previously reported, the government of Thailand has submitted the Royal decree to speed up the regulation of the domestic cryptostore, which obliges all operators of cryptocurrency exchanges, issuers and broker organizations to register with the ICO SEC before the start of the financial transactions.

Regulatory framework entered into force on 16 July this year, part of the new measures includes the possibility of using seven digital for the ICO, they will be used on the trading floors in the country, among them: Bitcoin, Ethereum, Ripple, Bitcoin, Cash, Classic, Ethereum, Stellar and Litecoin.

Issuers ICO will need to obtain a license through “portals” (companies operating on the markets) in which the management structure and plan of operations the latter will be carefully examined by the regulator. Three of the five portals ICO already submitted their applications to the SEC.

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