Thailand Has Now Licensed 13 Cryptocurrency Service Providers
Not recognized often Thailand has steady growing crypto community and it is very firm in regulations. Today it licenced 4 new services and the value is gaining. Thailand has also a respectable amount of Bitcoin Teller Machines. Two way and one way. There is a lot going on and positive after all the trouble Thailand has been through in the past years.
The Royal Decree on the Digital Asset Businesses B.E. 2561 regulates the crypto sector in Thailand. It categorizes digital asset businesses into three types: “digital asset exchange,” “digital asset broker,” and “digital asset dealer.”
The Thai Securities and Exchange Commission (SEC) has approved six digital asset exchanges so far. They are Bitkub, BX, Satang Pro, Huobi Thailand, ERX, and Zipmex. The newest approved exchange was ERX.
The Royal Decree also distinguishes between cryptocurrency and digital token. Cryptocurrencies are “created for the purpose of being a medium of exchange for the acquisition of goods, services, or other rights,” the SEC detailed. Meanwhile, digital tokens are created “for the purpose of specifying the right of a person to participate in an investment in any project or business, or to acquire specific goods, services, or other rights under an agreement between the issuer and the holder.”
First there is FinTec - then adoption - and then FinTec is killed by people knowing how to use peer to peer. Read full article here.