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Thailand SEC Allows 7 Crypto Firms To Keep Operating

Thailand SEC Allows 7 Crypto Firms To Keep Operating

An official statement from Thailand’s SEC claims that up to 7 crypto firms will be allowed to continue operating within the country while their applications are under review.

Thai SEC new move signals the change of attitude towards cryptos

Thailand’s Securities and Exchange Commission decided to release a new statement on August 15. According to this announcement, 7 crypto exchanges will be allowed to operate despite the fact that their applications are still not fully approved. The approved firms include five exchanges (Bitcoin Co. Ltd, Coin Asset Co. Ltd, Bitkub Online Co. Ltd. Satang Corp., Cash2coins Co. Ltd), as well as two crypto dealers (Thai WebMoney and Coins TH Co. Ltd.).

The new move was received extremely positively by many, and it started numerous speculations that this country’s government might be ready to delve deeper into the crypto world. Many even believe that cryptos might become a viable financial tool in the near future. However, this positive stance towards cryptos is pretty new in Thailand.

As recently as February of this year, there were numerous reports of the country’s Central Bank new announcement that financial institutions of Thailand are forbidden from investing in cryptos. Not only that, but they also banned these institutions from trading, operating crypto exchanges, and doing pretty much everything else related to cryptocurrencies. Even giving crypto-related investment advice was strictly prohibited, and that was only half a year ago.

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