Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges


Thailand has reportedly revised Capital rules that help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers.

The Thai Securities and Exchange Commission (SEC) has revised its Net Capital (NC) rules that help securities firms provide crypto services, according to a Bangkok Post report.

“The revised NC rules are expected to help free up liquidity for securities firms planning to enter new businesses such as digital exchanges or open cryptocurrencies,” the publication said, adding that several securities firms had consulted with the SEC to launch cryptocurrency exchanges.

Securities companies operating crypto businesses will be allowed to calculate net capital funds at the value of these cryptocurrencies. “The maximum calculable amount for digital assets to NC companies is 50% of the asset value,” the publication notes. The new rules will also count crypto assets as capital funds.

For securities firms that operate crypto businesses and store crypto assets for their customers, the rules require them “to maintain more than 1% of cold wallet capital funds (offline systems) and 5% of client assets held in other systems (hot wallets) or online system). ” For crypto companies that do not provide crypto custody services, “NC requires shareholder equity of more than 500,000 baht [$16.469].”

15 Crypto Companies Approved

The Royal Thai Decree on Digital Asset Business BE 2561 regulates the cryptocurrency sector in Thailand. It categorizes crypto businesses into three types: “digital asset exchange”, “digital asset broker”, and “digital asset dealer”. There is also a separate category for initial coin offering (ICO) portals.

A total of 15 cryptocurrency service providers have been licensed to operate legally in the country, according to the Thai SEC website. Some companies have received more than one license.

Eight companies have licenses to operate digital asset exchanges: Bitkub, BX, Satang Pro, Huobi, ERX, Zipmex, Upbit, and Z.com Ex. Five companies are licensed to act as digital asset brokers: Coins TH, Bitazza, Kulap, Upbit, and Z.com Ex. Four companies were approved to operate the ICO portal: Longroot, T-box, SE Digital, and Bitherb.

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