Four crypto exchanges receive SEC regulatory approval in Thailand

09 Jan, 2019
by Alberto Arnaldo
Exchange
Four crypto exchanges receive SEC regulatory approval in Thailand

According to a statement released on the 8th of January by the Securities and Exchange Comission of Thailand, 4 digital asset business licenses have just been approved.

Although 2 license applications were rejected and one case is still being processed, the approval of 4 new exchange licenses is already a positive development. Bitcoin Company Limited, Bitkhun Online Co. and Satang Corporation Limited will be licensed as digital assets trading centers, meanwhile Kripo Kurren C. will be licensed as a broker and trader.

According to the press release, the reasons for denying the license approval for the other 2 exchanges were due to lack of compliance with KYC procedures and also insufficient cybersecurity measures.

The latest news signifies an important change of attitude from Thailand’s SEC, after they issued a warning last November about the unclear legal registration of several local exchange platforms.

Read more: Thailand's SEC issues warnings as crypto exchanges plan expansion

It would appear as if, by granting a quick approval to their registration requests, the Thai SEC is trying to convince more crypto businesses to engage with compliance as a mechanism to avoid fraud.

Read more: Thailand set to use blockchain in their voting system

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Poll

Do you think Thailand will become one of the leading crypto players on their region?

(2 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage