With Landmark Announcement, Thailand Issues Licenses to Four Digital Asset Exchanges

January 10, 2019

BANGKOK, January 9, 2019 – Thailand’s Ministry of Finance officially approved four digital asset exchange licenses, following the recommendation of the Securities and Exchange Commission (SEC). This follows the Digital Asset Business Law last May, which made it mandatory for the exchanges to apply for a license.

The approved digital asset exchanges are Satang Corporation Co Ltd (satang.pro), Bitcoin Co (bx.in.th) and Bitkub Online Co Ltd (bitkub.com). A fourth company, Coins TH Co Ltd (coins.co.th) has been approved as a licensed broker and dealer of cryptocurrencies.  

Two other exchanges had their applications rejected, but they are welcome to re-apply again provided they meet certain operational and security standards. Another exchange is still awaiting approval after having undergone significant management changes recently.

Last year’s Digital Asset Business Law also provided rules for ICOs to be conducted via a SEC-approved ICO portal. While the SEC previously said that an ICO portal was likely to be certified in November last year, technological constraints have since delayed these plans to early 2019.

 

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