The Stock Exchange of Thailand or the SET is working out for applying for a digital license in order to run a cryptocurrency exchange. With continuous regulations, Thailand is set to become the cryptocurrency hub in Southeast Asia.
As more and more people are moving towards adoption of cryptocurrencies, institutional investors are getting attracted too. As such there not many specific institutional platforms for trading cryptocurrencies and thus the stock exchange of Thailand is planning to introduce one for the institutional investors. If the financial regulators in Thailand approve the licensing, it would be a great step ahead for the crypto industry.
Pattera Dilokrungthirapop, who is a member of the board of directors of the Stock Exchange of Thailand, the exchange is getting ready to invade into the cryptocurrency market by presenting brokerage services for crypto trading.
She also said they believe that cryptocurrencies will grow massively in the future as more and more investors gain an understanding about them. She added that securities firms are curiously waiting for the Stock Exchange of Thailand to apply for the digital license.
Thailand is steadily moving ahead in the crypto space with regulatory clarity unline other surrounding countries such as China and India who are moving away from crypto adoption. Thailand is all set to become a captivating place for cryptocurrency and blockchain businesses with the government of the country also promoting blockchain technology. Last year, Thailand also legalized some cryptos such as bitcoin, litecoin, ethereum and more while the securities and exchange commission of the country has also given clear regulations in relation to initial coin offerings. Around 2 weeks back, the Ministry of Thailand had also granted licensing to three new cryptocurrency exchanges to operate in the country,
What are your thoughts on the future of cryptocurrencies in Thailand and how the Stock Exchange of Thailand moving towards cryptocurrencies will help the overall crypto industry? Tell us in the comments section below.