Thai Securities and Exchange Commission (SEC) has announced the names of the cryptocurrency firms that have been authorized to operate in the country. Although their applications are still under review by the regulators.
However, temporary approval have been grated to the seven until their applications are either approved or denied.
The seven cryptocurreny firms consisted of five crypto exchanges and two dealers.
Cryptocurreny firms that have been temporary approved are;
Bitcoin Co. Ltd. (BX)
Bitkub Online Co. Ltd
Cash2coins Co. Ltd
Satang Corporation (Tdax)
While the two approved dealers are Coins TH Co. Ltd. and Digital Coin Limited (Thai WM)
Mr. Rapee Sucharitakul, Secretary-General of the Thai SEC, explained that cryptocurrency investing carries high risks. The Commission urges anyone being approached to invest in cryptocurrencies or crypto projects to first check whether those companies have been approved to legally operate in the country.
Thai SEC revealed on August 15 that the seven companies above have applied and been granted temporary approval to operate until the regulators have either approved or rejected their applications.
Henceforth before commencing a crypto business in Thailand, a Firm must obtain approval from the ministry of finance and the SEC first.
What do you think of the Thai SEC granting temporary approval to seven cryptocurrency firms?