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Cryptocurrencies

Stock Exchange of Thailand to move towards cryptocurrency

Monday 21 January 2019 | 09:47 AM CET

The Stock Exchange of Thailand (SET) has announced its intention of applying for a digital license in order to run a cryptocurrency exchange.

As there are not many specific institutional platforms for trading cryptocurrencies, SET is planning to invade into the cryptocurrency market by presenting brokerage services for crypto trading. If the financial regulators in Thailand approve the licensing, Thailand is set to become the cryptocurrency hub in Southeast Asia.

While Thailand is moving ahead in the crypto space with regulatory clarity, the government of the country is also promoting blockchain technology. In 2018 Thailand legalised some cryptos, including bitcoin, litecoin, ethereum, and more. In the meantime, the securities and exchange commission of the country has also given clear regulations in relation to initial coin offerings.

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