Thailand’s ASCO considers joint cryptocurrency exchange
ASCO chairperson Pattera Dilokrungthirapop, told the paper that under the plan several Thai several securities firms would apply for a joint crypto operating licence with the Thai Securities and Exchange Commission (Thai SEC) in order to reduce costs and share innovative technologies.
“We are confident that investors will prefer trading with us, since we have been in the securities trading business for a long time,” said Dilokrungthirapop. “Investors can trust our trading system, which has secured asset preservation.”
She added that as traditional financial companies need to incorporate new systems to protect investors’ assets, and keep those assets separate from their own, uniting to build a single platform that reduced costs and shared technology know-how made sense
ASCO securities firms are also interested in initial coin offering (ICO) portals, and the organization will work with the Thai SEC with the aim of allowing securities firms to expand operations into the digital asset field.
Thailand’s legal framework for cryptocurrencies was introduced in May and defines them as “digital assets and digital tokens”, which come under the jurisdiction of the Thai SEC. The royal decree requires all market participants involved in digital asset transactions to register with the SEC as well as securing approval from the Finance Ministry to conduct digital asset business in the country.