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Thailand Approves 4 New Cryptocurrency Service Providers2 min read

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The Thai Securities and Exchange Commission has approved four new crypto business operators to legally operate in the country. In addition to licensing a new crypto exchange, the government has officially approved the country’s first three digital token portals. Meanwhile, new rules, conditions, and procedures have been introduced for digital asset businesses.

One of the four new digital asset business service providers is Bitherb Co Ltd. The organization has received four licenses from the Thai SEC, one for supporting a crypto trade service, one for a digital token trade service, one for a digital token brokerage service, and last one for a crypto brokerage administration. As per their website, the organization has not yet started activities.

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Thailand right now has three authorized cryptocurrency exchange and one broker. In January, the SEC began issuing licenses to crypto organizations that had been doing business before the regulation producing results in May a year ago.

Moreover, Thailand currently has four digital asset exchanges; all of them have been endorsed for digital tokens and cryptocurrencies. One of them is Bitherb; the other three are Bitkub Online Co. Ltd (Bitkub), Bitcoin Co. Ltd (BX), and lastly Satang Corporation (Satang Pro) which was endorsed in January. Another digital operator that has been endorsed by the Thai SEC is Coins TH. This organization was approved in January to work as a dealer and a broker for cryptocurrency.

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Further, in March, the Thai SEC reported that they had approved four digital currencies; they are ETH, BTC, XLM, and XRP. They can be legally utilized for investments in ICOs and as base exchanging pairs against different cryptocurrencies. This listing replaces the previous one reported in June a year ago. Additionally, the regulator clarified that this endorsement does not make these coins tender.

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What do you think of the way Thailand regulates cryptocurrency? Let us know in the comments section below.

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