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, Bitcoin.com 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 Z.com Ex), five firms operate digital asset brokerages (Coins TH, Bitazza, Kulap, Upbit, and Z.com 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.
More
  • Bitcoin (btc) $34,435.00 (-4.60%)
  • Ethereum (eth) $2,110.46 (-6.03%)
  • Tether (usdt) $0.998849 (-0.45%)
  • Binance Coin (bnb) $323.66 (-5.06%)
  • Cardano (ada) $1.37 (-3.42%)
  • Bitcoin (btc) $34,435.00 (-4.60%)
Jun 20, 2021 (Sunday)
14:11
BTC Surges by 1.01% Within 5 Mins, Marking 34,167.36 USDT
12:09
BTC Drops by 1.42% Within 5 Mins, Marking 33,515.6 USDT
09:53
BTC Drops by 1.13% Within 5 Mins, Marking 34,888.01 USDT
02:30
Crypto Market Sentiment On Jun 20: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $179.62 Mln In Past 10 Hours
00:07
BTC Drops by 1.16% Within 5 Mins, Marking 35,251.78 USDT
Jun 19, 2021 (Saturday)
19:23
BTC Surges by 1.05% Within 5 Mins, Marking 35,960.19 USDT
04:30
BTC Surges by 1.04% Within 5 Mins, Marking 35,392.4 USDT
03:31
BTC Drops by 1.06% Within 5 Mins, Marking 34,968.6 USDT
Jun 18, 2021 (Friday)
16:01
BTC Surges by 1.18% Within 5 Mins, Marking 36,474.01 USDT
06:51
CRYPTOBANK’s CBANK Token To Be Listed On Hoo.com
02:30
Crypto Market Sentiment On Jun 18: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $553.46 Mln In Past 10 Hours
Jun 17, 2021 (Thursday)
20:12
BTC Surges by 1.05% Within 5 Mins, Marking 37,733.19 USDT
17:21
BTC Drops by 1.16% Within 5 Mins, Marking 37,834.09 USDT
09:41
TriumphX Publishes NFT In Partnership With Artist HANJUNGSUN
02:30
Crypto Market Sentiment On Jun 17: Market In "Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $233.17 Mln In Past 10 Hours
Jun 16, 2021 (Wednesday)
20:15
BTC Surges by 1.05% Within 5 Mins, Marking 38,856.33 USDT
18:01
BTC Drops by 1.21% Within 5 Mins, Marking 38,668.43 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft