According to one of the local newspaper Bangkok Post, it was mentioned that The Association of Thai Securities Companies (ASCO) is looking to form a joint cryptocurrency exchange with other firms together to get the crypto license on July 2nd.
ASCO chairperson Mr. Pattera Dilokrungthirapop told in an interview with the Bangkok post that in order to reduce the costs and share technologies the Thai securities firms will also try to form a joint crypto operating license with the Thai SEC (Thai Securities and Exchange Commission). This will be very effective and it will reduce the burden of the companies.
The Business license has so much power to give. By just getting a license a firm can be digital asset brokers, dealers, and can operate digital token e-wallets. It gives so many wings that the firm finally knows its potential and then it can expand its business and make lots of profits. The function of the security firm is to take out the company’s asset to a safe place and one should monitor the assets on a regular basis. This gives a lot of stability to the firm and they can grow with time.
Dilokrungthirapop in one of the interviews told the Bangkok Post all the crypto investors have shown their interests in trading with them, the reason being ASCO has been the longest time in providing the security services to the crypto markets so they feel secure in doing the business.
Further, he added that they are also looking to the digital asset field and want to expand their business. ASCO securities showed their interest in Initial Coin Offering (ICO).
The organization is likely to work with Thai SEC to aim the securities firms to expand their business into other fields. This is going to be a big step for the ASCO and it will bring so many revenues to it and be giving it a chance to grow.
In the month of May, the cryptocurrencies concept was driven by Thailand’s legal framework. It stated the concept of a ‘digital assets and digital tokens’, from this point of time it happened to fall under the jurisdiction of the Thai SEC and it was legalized. ASCO wants to work with the investors and satisfy them by providing the high-level securities in the crypto market and gaining some market share.