Thailand’s SEC Approves Seven Crypto Exchanges, Two More Under Review

Thailand’s SEC Accepts Seven Crypto Exchanges, Looking into Another Two

On Wednesday, August 15, Thai SEC disclosed a list of seven cryptocurrency firms that can continue their business operations. As per their statement, it has been confirmed that the list includes Bitcoin Company Limited (BX), BitKub, Cash2Coin, Group Company Limited (TDAX), and Coin Asset Co Ltd, whom of which are considered legal businesses.

According to Cointelegraph’s report, the operators will still continue their services while awaiting the complete licenses from the Thai SEC within three months of the May 14 deadline.

The remaining two that made SEC’s list include cryptocurrency dealers, which are none other than the Coins TH Co. and Digital Coil Company Limited. It appears that the regulatory body is also deliberating on an additional two digital asset operators, who have since filed an application under the Transitional Provisions, however the details as to which operators have not been disclosed.

The General Secretary of SEC, Mr. Rapee Sucharitakul advises investors to remain conscious of the risks tied to such investments along with ensuring that the businesses each individual support is “listed by the SEC”. Sucharitakul also noted that, “operators who are not on the list and wish to operate a digital asset business […] can apply for a license to the SEC,” as quoted in the most effective translation possible.

As per existing information, the SEC has since received 50 project proposals, but only five of them have successfully met the listed requirements.

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