A group of traditional securities firms in Thailand is planning to jointly launch a new cryptocurrency exchange, a report indicates.
According to the Bangkok Post on Monday, the Association of Securities Companies (ACE) – a body that represents the country’s securities firms – said it is in talks with regulators about allowing established financial firms to offer crypto exchange services.
Furthermore, the association’s chairwoman, Pattera Dilokrungthirapop, said in the article that at least several securities companies are filing a registration application with the Securities and Exchange Commission (SEC) as preparation for the launch of a crypto exchange.
As previously reported by CoinDesk, Thailand passed a regulatory framework for cryptocurrencies in May, which is now pending publication in the country’s Royal Gazette before becoming law.
Under the new rules, any entity that conducts crypto exchange transactions or initial coin offerings in Thailand must be registered and approved by the SEC.
The Association of Securities Companies (ASO) in Thailand is weighing up their chances of joining the crypto trading market according to Bangkok Post report. The body which comprises mainly traditional financial security agencies is already in talks with the SEC and has filed registration applications as disclosed by chairwoman, Pattera Dilokrungthirapop.
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