When it comes to the cryptocurrency industry, there are only few countries that are brave to embrace it, adopt it and legalize it. And Thailand is one among those countries that embraced cryptocurrency. Thailand is making tremendous improvement in terms of cryptocurrency adoption and regulation.
Just few days ago on Thursday 6th of September, The Thai Securities and Exchange Commission (SEC), Thailand’s main crypto regulator, announced that another cryptocurrency firm has been approved to legally operate in the country.
Thai SEC granted approval to Southeast Asia Digital Exchange Co. Ltd. (Seadex), making it now the sixth legal crypto exchange in Thailand. The approval came after reviewing Seadex’s information and concluding that the business existed before May 14 when the regulation took effect.
The regulator allows crypto firms that were in business before the enforcement of the crypto regulation to continue operating while their applications are being reviewed, providing that they applied for approval before August 14.
Seadex will now join the other five already approved cryptocurrency exchanges, making it a grand total of Six. Last month August, the regulator approved seven crypto firms, five of which were crypto exchanges.
Indeed, the cryptocurrency industry in Thailand is fast growing and the growth is impressive.