Copy link
Increase text size
Decrease text size
Link copied

Thailand’s new capital rules favorable for cryptocurrency exchanges

The Thai SEC revised its NC rules to accommodate digital asset trading.

Image by Sasin Tipchai from Pixabay

Fri, 20 Nov 2020, 06:35 am UTC

Thailand is making it easier for businesses to put up cryptocurrency exchanges in the country. The Securities and Exchange Commission (SEC) has made revisions to its net capital (NC) rules which could help securities firms provide crypto services, reported.

“The revised NC rules are expected to help free up liquidity for securities firms that plan to enter new business such as open digital or cryptocurrency exchanges,” Bangkok Post reported. “Some securities companies consulted with the SEC to launch a cryptocurrency exchange.”

The Thai SEC made adjustments to its NC requirement to bolster the liquidity management of securities firms and derivatives brokers, and accommodate cryptocurrency trading. One such change is the inclusion of cryptocurrency and other digital assets when calculating a firm’s net capital funds. “The new rules will also count digital assets as capital funds,” the publication added.

However, there the SEC has set a limit as to the value of crypto assets firms can include when computing for their net capital funds. “The maximum amount calculable for digital assets to a firm’s NC is 50% of the asset value,” the publication explained.

Security firms that operate crypto businesses and store crypto assets for clients will be required to “more than 1% of the cold wallet's capital funds (offline system) and 5% of the client's assets stored on another system (hot wallet or online system)” under the new NC rules. Meanwhile, crypto firms that do not offer custodial services will be required that the “shareholders' equity to be over 500,000 baht,” which is around $16,469.

Thailand currently has 15 cryptocurrency service providers which some firms holding more than one license. Eight firms operate crypto exchanges (Bitkub, BX, Satang Pro, Huobi, ERX, Zipmex, Upbit, and Ex), five firms operate digital asset brokerages (Coins TH, Bitazza, Kulap, Upbit, and Ex), and four firms are approved to operate ICO portals (Longroot, T-box, SE Digital, and Bitherb.)

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (btc) $50,775.00 (+2.84%)
  • Ethereum (eth) $1,743.11 (+4.93%)
  • Binance Coin (bnb) $238.41 (+5.30%)
  • Cardano (ada) $1.15 (+3.13%)
  • Tether (usdt) $1.01 (+0.44%)
  • Bitcoin (btc) $50,775.00 (+2.84%)
Mar 8, 2021 (Monday)
The Number Of BTC Held On Exchanges Crashed 20% In 12 Months
If Ripple Goes Away, XRP Will Keep Trading: CEO Brad Garlinghouse
Chainlink announced that decentralized finance protocol Set Protocl has integrated with DPL/USD price feed.
PolkaFoundry To Postpone IDO Plan
UFC Announces Regional Partnerships With Top Crypto-Only Sportsbook
Ethereum Liquidity Mining Of Alpha Finance To Be Extended To April 11
Loopring CEO: We Will Never Get Involved In NFT
StaFi announced, "rETH Staking Pool and #rETH/#ETH #Uniswap LP farming is coming very soon."
Rapper Soulja Boy Mints His Tweet To An NFT Through Valuables
Crust Maxwell Decentralized Storage Market To Undergo Several Upgrades In Mid-March
CoinNess Market Surveillance Mar. 8: BTC Trading Above $50000 Level
Armor.Fi tweeted, "Based on feedback from the $ARMOR community, we recently extended the Armor rewards program from 24 weeks to 2 year."
Big Data Protocol Alliance Adds Another Data Provider, Collaborative Stock Trading App, ClosingBell
BTC Drops by 1.14% Within 5 Mins, Marking 50,711.69 USDT
Curve Proposes To List 5 New Pools
02:08 Launches Yearn Partners Program
Ethernity Chain To Postpones NFT Sale Of Boss Logic
BTC Tops List Of Crypto Net Outflow With $128.11 Mln In Past 10 Hours
Data Summary Of's Perpetual Contract: Mar 6
Mar 7, 2021 (Sunday)
BTC Drops by 1.03% Within 5 Mins, Marking 50,644.69 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.