The Stock Exchange of Thailand is reportedly planning to launch a cryptocurrency exchange. The securities companies that are members of the exchange will also apply for cryptocurrency broker-dealer licenses with the country’s regulator. Thailand currently has three licensed crypto exchanges.
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SET Planning to Enter the Crypto Space
The Stock Exchange of Thailand (SET), the country’s national stock exchange, is reportedly planning to operate a cryptocurrency exchange that is separate from the stock exchange.
Dr. Pakorn Peetathawatchai, President of the SET, revealed on Thursday that the bourse is preparing to test a digital exchange prototype in the second half of this year, Post Today reported. The Bangkok Post elaborated that the bourse aims to “open a new exchange and become an authorised digital asset exchange this year,” adding that details such as the back-office system and which wallet to use for token storage are being worked out.
The news outlet reported Pattera Dilokrungthirapop, chairwoman of the Association of Securities Companies and vice-chairwoman of the SET’s board of governors, commenting:
The bourse wants to catch the growing investment trend of digital assets.
The SET is overseen by the Thai Securities and Exchange Commission (SEC) and currently operates under the legal framework laid down in “the Securities and Exchange Act, B.E. 2535 (1992),” its website details.
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