Thai crypto business to get liquidity boost following new regulations
Securities firms in Thailand are now authorized to count crypto as capital funds. Thailand’s Securities and Exchange Commission has revised its net capital rules regarding digital assets.According to a Nov. 18 report by The Bangkok Post, the Thai SEC now allows firms dealing with digital assets to include the value of those assets when calculating their net capital funds. The new rules follow a surge in volumes on Thai exchanges. The Bangkok Post states that, following the United States presidential election, the Stock Exchange of Thailand saw one-day trading value hit $5.5 billion while....
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The revised requirements are aimed at adding liquidity to the Thai market, while also allowing digital asset businesses to hold part of their required capital in cryptocurrencies.
Huobi Thailand failed to fix system issues despite several extensions given by the Thai SEC. Huobi’s Thailand unit is set to wind down operations by July 1, after its operating license was revoked by the Thai Securities and Exchanges Commission (SEC).The Thai SEC revoked Huobi’s license in May after it failed to comply with the local regulations. The permanent closure orders come nearly eight months after the regulators suspended the exchange’s services in September.The exchange claimed it has tried to fix the regulatory issues but would have to wind down operations owing to SEC orders.....
The Thai SEC is seeking public input for newly proposed crypto custody regulations until late September. The Securities and Exchange Commission (SEC) of Thailand continues introducing new regulations for the cryptocurrency industry, citing investor protection concerns.On Wednesday, the Thai SEC proposed a set of additional regulations related to custody of investors' cryptocurrency holdings held by digital asset business operators. The newly proposed rules refer to custody of fiat money for digital asset accounts as well as cryptocurrency lending, or earning interest on crypto holdings.The....
Reports reveal that subsidiaries of Bithumb Hong Kong are facing a civil suit due to a contract breach. According to the report, a Thai firm says that Bithumb’s Hong Kong subsidiaries halted its business in Thailand. This halt led to serious business damage for the Thai firm. Korea Times reported on Tuesday that a former […]
The proposed TAT Coin will enable tourism operators to cash in on the popularity of cryptocurrencies. The Tourism Authority of Thailand (TAT) is considering creating its own utility token to capitalize on the growing popularity of cryptocurrencies.Named after the agency's acronym, the plan to launch TAT coin will have to navigate through Thailand's complex legal framework and regulations before coming to life. The Bangkok Post reported today that the TAT is in discussions with the Stock Exchange of Thailand regarding its ambitions and how the transfer of value can be achieved without....