Thai SEC Revises Net Capital Rules in Bid to Open Liquidity, Support Digital ...
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.
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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....
Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers. New Thai Rules and Crypto Exchanges The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported Wednesday. “The revised NC rules are expected to help free up liquidity for securities firms that plan to enter new business such as open digital or cryptocurrency exchanges,” the publication conveyed,....
Thailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income. Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market According to a Bloomberg report, the Securities and Exchange Commission (SEC) of Thailand is likely preparing the ground to require investors to show their income or assets before opening accounts. Ruenvadee Suwanmongkol, the secretary general of the country’s financial....
Thailand was the first in Southeast Asia to implement digital-assets regulations in 2018. The move attracted investors to cryptocurrencies. After that, however, the crypto industry started facing setbacks as regulators tightened rules during trading irregularities and the collapse of a top exchange. On September 1, the SEC passed new digital advertisement rules. The rules refrain […]
Binance has locked in an agreement as Thai government officials expedite crypto regulations which could pave the way for the firm to open a branch in the Kingdom. Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development PCL.Gulf Energy Development PCL is a Thai holding company run by billionaire Sarath Ratanavadi that focuses on the energy sector.Gulf Energy reportedly made the agreement with the world’s largest crypto exchange based on the strong assumption that Thailand’s digital economy....