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Thailand’s SEC Gives Green Light for Crypto Exchange Trading

Thailand’s SEC Gives Green Light for Crypto Exchange Trading

 

  • The securities regulator in Thailand has given the green light to a digital assets platform for Asian-Pacific crypto-fiat trading.
  • Zipmex now has a license to trade and operate in the region, giving hope to many enthusiasts throughout the crypto industry. 
  • The license was brought in as part of the nation’s regulatory aspects for cryptocurrencies.
  • Two platforms who have already applied for a license have been rejected.

 

The securities regulator in Thailand has given the green light to a digital assets platform for Asian-Pacific crypto-fiat trading.

Zipmex now has a license to trade and operate in the region, giving hope to many enthusiasts throughout the crypto industry. 

Both Thailand’s Ministry of Finance and its Securities and Exchange Commission (SEC) gave the license to Zipmex, however strict regulatory requirements on applicants will be in place from now on.

As per CoinTelegraph:

“To secure the license, hopefuls must prove they have robust finances — with shareholder equity of at least 50 million baht (~$1.65 million) — and operate at a high standard in their IT and cyber security systems.”

The license was brought in as part of the nation’s regulatory aspects for cryptocurrencies, of which two platforms who have applied for a license have been rejected. 

For Zipmex though, the license will allow them to start operating in Thailand soon. They previously launched nation-centric platforms in other areas of the world including Australia, Singapore and Indonesia.

“Digital currencies and securities are emerging asset classes for both the banked and unbanked. It is an interesting time in our financial history, and I’m glad Thai regulators are working with exchanges to build regulatory frameworks for these new technologies to operate within.”

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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