Seven Crypto Companies Licensed in Thailand
August 17, 2018
Thailand’s Securities and Exchange Commission (SEC) has named seven organizations to receive temporary operational license soon.
On May 14 this year Thailand adopted a number of rules for cryptocurrencies and ICO, from July on SEC began accepting license applications for crypto companies. 20 companies, 50 ICO projects and 5 ICO portals have been reported to show their interest in these licenses.
The crypto companies that provided their services in the country before May 14 were allowed to apply for temporary license while their other applications are reviewed by the SEC. according to the latest statement by the Commission, 5 crypto exchanges and 2 crypto dealers will be granted them soon.
These crypto exchanges include Satang Corporation (Tdax), Coin Asset, Bitkub Online Co. Ltd., Cash2coins Co. Ltd. and Bitcoin Co. Ltd. (BX) with Coins TH Co. Ltd. and Digital Coin Limited (Thai WM) among crypto dealers
Rapee Sucharitakul, Secretary-General of the Thai SEC, when commenting on the issue, stressed it again that investing in cryptocurrencies is inextricable entwined with high risks. That is why citizens wishing to join the market need to address only the platforms with official licenses.
Remember that quite recently Thai actor Jiratpisit Jaravijit who turned to be involved in the Dragon Coin crypto scam project was accused of embezzling 5,500 BTC (~$24 mln).