Thailand’s crypto market seeks clearer regulations as industry interest peaks
The Thai SEC says the total number of crypto accounts rose by nearly 300% over the course of the last 180 days. Thailand currently lays claim to one of the more regulated crypto trading markets in the world, with exchanges having to adhere to strict regulatory standards. For example, at the start of the year, Bitkub, the country’s largest cryptocurrency exchange, was shut down by regulators after the trading platform faced a series of lengthy service outages. Despite these seemingly stringent conditions, the country’s crypto market has continued to thrive. That being said, a tipping point....
Related News
Thailand’s Fintech sector has called for the government to introduce regulations and support homegrown industry startups in the face of an increasing trend of external operators moving into the Thai market. The Bank of Thailand, the country’s central bank, does not enforce any regulations for cross-border trade in the financial services sector, leaving external payment platforms to gain a presence in the country. An example sees Thailand’s fourth largest bank by assets, Kasikornbank, partner Chinese fintech firm IBS for baht-yuan cross-country settlements. An alternative to the traditional....
“In the medium-long term, I expect engagement with crypto to accelerate prompted by a clearer regulatory environment,” SEBA Bank's Christian Borel told Cointelegraph. With crypto being in the sights of many regulators, many have wondered if regulation is good or bad for crypto. However, Christian Borel, Senior Executive Officer at SEBA Bank, says that if the laws are clear, it may push crypto adoption forward.In a Cointelegraph interview, the banking executive mentions that institutions are likely to adopt crypto following the advent of clear regulations. Additionally, the presence of....
Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of Singapore (MAS) has put forward draft regulations that aim to restrict crypto trading for retail investors with the stated goal of reducing risks for consumers associated with....
The legislation seeks to establish clearer guidelines for mining, taxes and licensing for service providers such as exchanges in the region.
Speculation has been going on in the crypto community as to whether the $69k Bitcoin top was the peak of this bull run. Here’s a comparison between some indicators to see how this top compares with the $65k April peak. Comparing the Metrics Between The Nov 10th And April 14th Peaks As per the latest weekly report from Arcane Research, most of the sentiment measuring metrics highlight the differences between the two tops. The first relevant metric is the futures open interest indicator, which shows the total amount of Bitcoin involved in futures contracts at the end of a trading day.....