The Association of Securities Firms (ASCO), Thailand are alleged to be planning the launch of a brand new cryptocurrency exchange in order to keep up with the demand for cryptocurrency in Thailand, driven by research into retail interest and interest within cryptocurrency trading.
ASCO chairperson Mr. Pattera Dilokrungthirapop told in an interview with the Bangkok post that in order to reduce the costs and share technologies the Thai securities firms will also try to form a joint cryptocurrency operating license with the Thai SEC (Thai Securities and Exchange Commission). This will be very effective and it will reduce the burden of the companies.
With a securities business license, interested companies would be able to function as cryptocurrency broker-dealers, exchanges and more.
However, with the expensive nature of the license coupled with other operating costs, Pattera has made it clear that interested securities firms will be grouped, to make the process less burdensome on them while also enabling the companies to collaborate innovatively.
In a bid to ensure transparency and curb misappropriation of investors’ funds, traditional securities firms in Thailand are required by law to have the investors’ ‘property preservation system’ separated from the company’s assets.
According to The Bangkok Post:
Also Read: Thailand SEC Legalizes 7 Cryptocurrencies With Regulations
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