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05 December 2020

Thailand's New Rules Help Securities Companies Launch Crypto Exchanges | Regulation Bitcoin News

Thailand's New Rules Help Securities Companies Launch Crypto Exchanges | Regulation Bitcoin News


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Thailand's New Rules Help Securities Companies Launch Crypto Exchanges.

The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported Wednesday.

“The revised NC rules are expected to help free up liquidity for securities firms that plan to enter new business such as open digital or cryptocurrency exchanges,” the publication conveyed, adding that some securities companies have consulted with the SEC to launch a cryptocurrency exchange.

For securities companies that operate crypto businesses and stores crypto assets for their customers, the rules require them “to maintain more than 1% of the cold wallet’s capital funds (offline system) and 5% of the client’s assets stored on another system (hot wallet or online system).” For crypto companies that do not provide crypto custody service, “the NC requires shareholders’ equity to be over 500,000 baht [$16,469].”.

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