The Thailand Stock Exchange is preparing to apply to the Ministry of Finance for the cryptocurrency trade license. The long-term goal of the exchange is to create its own crypto exchange.
With recent moves, Thailand has become one of the most important Southeast Asian countries in the crypto-currency industry.
While neighboring countries such as Malaysia are still unstable about legalizing crypto coins; Other countries, such as Thailand, Singapore and Hong Kong (China’s private governing region), are constantly evolving and developing on the road to be the pioneers of the sector.
A pioneer of the crypto currency field in Southeast Asia, Thailand
Usually known for its sun-tanned beaches, enormous culinary culture and nightlife, the kingdom is on its way to becoming a major player in the Asian cryptocurrency. According to the Bangkok Post today, the Thai Stock Exchange (SET) is too close to apply to the Ministry of Finance to obtain a license for crypto money trading. If this happens, SET will also operate as a digital asset exchange.
Pattera Dilokrungthirapop, SET’s vice chairman, spoke to Bangkok Post and said:
“The bourse wants to catch the growing investment trend of digital assets”
“Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class.”